Transactions in Virtual Currency Do Not Require Financial Institutions, and Can

question 1

Multiple Choice

Transactions in virtual currency do not require financial institutions, and can be conducted anonymously. With these features of virtual currency in mind, the most ethical action a user can take is to

• A)protect himself or herself.
• B)avoid the use of virtual currency entirely.
• C)use virtual currency exclusively.
• D)take advantage of those who are not aware of how virtual currency is used.

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Definitions:

Statement of Cash Flows

A financial statement that summarizes the cash inflows and outflows for a company over a period, showing how changes in balance sheet and income affect cash and cash equivalents.

Financing Activity

Activities that result in changes in the size and composition of the equity and borrowings of a company.

Operating Activity

Business actions that are directly related to the production and delivery of goods and services, which are reflected in the income statement.

Investing Activity

This refers to transactions involving the acquisition and disposal of long-term assets and other investments not included in cash equivalents.