Which of the Following Could Not Serve as Commodity Money

question 64

Multiple Choice

Which of the following could not serve as commodity money?

• A)Gold.
• B)Cattle.
• C)Sugar.
• D)Paper money that is not backed up by valuable commodity.

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Definitions:

Deferred Revenue

Payments received by a company for goods or services that have yet to be delivered or performed.

Net Income

The total profit of a company after all expenses, taxes, and costs have been deducted from total revenue.

Total Liabilities

The sum of all financial obligations a company owes to outside parties, including loans, accounts payable, and any other debts.

IFRS

International Financial Reporting Standards, which are global accounting standards for preparing financial statements, making it easier to compare entities internationally.