The Evolution of the Payments System from Barter to Precious

question 63

Multiple Choice

The evolution of the payments system from barter to precious metals,then to fiat money,then to checks can best be understood as a consequence of the fact that

• A)paper is more costly to produce than precious metals.
• B)precious metals were not generally acceptable.
• C)precious metals were difficult to carry and transport.
• D)paper money is less accepted than checks.

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Definitions:

Finance Lease

A type of lease agreement in which the lessee effectively obtains ownership of the asset by the end of the lease term, usually involving payment of the asset's full value over time.

Lessee

A person or entity who leases property or equipment from another, the lessor, under a lease agreement.

Right-Of-Use Asset

An asset that represents a lessee's right to use an underlying asset for the lease term under an agreement.

Debt-To-Equity Ratio

The ratio highlights the balance of debt and equity used in the financial structuring of a company's assets.