Jim, an Independent Trader, Conducts His Business Transactions Using Digital

question 6

Multiple Choice

Jim, an independent trader, conducts his business transactions using digital forms of money that are not regulated by any national government. Jim uses this digital means of exchange with his trading partners as well. In this scenario, Jim uses currencies known as _____.

• A) cost-push currencies
• B) cryptocurrencies
• C) microcurrencies
• D) complementary currencies

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Definitions:

Budgetary Slack

Excess resources set within a budget to provide for uncertain events.

Operational Plans

Detailed plans that outline how a strategy will be implemented in terms of day-to-day operations.

Flexible Budget

A budget that shows the expected results of a responsibility center for several activity levels.

Static Budgets

Financial plans that remain unchanged over the budget period, irrespective of any variations in activity levels.