The Vatican City Uses the Euro Although It Is Not

question 68

True/False

The Vatican City uses the euro although it is not a part of the European Union.

---

Definitions:

Book Value

Refers to the net value of an asset as recorded on the balance sheet, calculated as the original cost minus accumulated depreciation and impairment.

Accrued Salaries

Salaries that have been earned by employees but have not yet been paid by the company.

Liabilities

Financial obligations or debts owed by a business to external parties or individuals.

Stockholders' Equity

The residual interest in the assets of a corporation that remains after deducting liabilities, essentially the net worth from a shareholder's perspective.