Which of the Following Is True

question 86

Multiple Choice

Which of the following is true?
I. Checks are considered money because they can be used as a medium of exchange.
II. Checks represent a transfer of money.

• A) neither I nor II
• B) both I and II
• C) II only
• D) I only

Comprehend the moderating factors of accuracy in personality judgments.

Understand the legal capacity required to enter into contracts.

Recognize the enforceability and validity of contracts based on content, context, and parties involved.

Distinguish between contracts that are void, voidable, and unenforceable.

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Definitions:

Market Prices

Prices determined by the supply and demand for goods and services in a competitive market.

Excise Tax

A tax directly levied on certain goods, services, or activities, often with the aim of discouraging their use or consumption.

Relative Burden

The comparative impact of a tax, cost, or other financial obligation on an individual or group.

Inelastic Demand

Inelastic demand is a situation where the demand for a product does not significantly change with a change in the product's price.