A Major Problem with a Commodity Money Is That, to Be

question 35

Multiple Choice

A major problem with a commodity money is that, to be useful, money must be

• A)divisible.
• B)storable.
• C)portable.
• D)All of the above are correct.

---

Definitions:

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, giving a snapshot of its financial condition and liquidity.

Payment Schedule

A plan that outlines the dates and amounts for payments due over a period.

CRA

Can refer to the Canada Revenue Agency, the agency responsible for the administration of tax laws for the Canadian government, or to the Community Reinvestment Act, a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities.

Bargain Purchase Option

A clause in a lease agreement that allows the lessee to purchase the leased asset at the end of the lease term for a price that is significantly lower than the expected market value.