As the Payments System Evolves from Barter to a Monetary

question 73

Multiple Choice

As the payments system evolves from barter to a monetary system,

• A)commodity money is likely to precede the use of paper currency.
• B)transaction costs increase.
• C)the number of prices that need to be calculated increase rather dramatically.
• D)specialization decreases.

Know the disclosure requirements under AASB 112.

Understand the concept of tax base in relation to the carrying amount of assets and liabilities.

Understand the concepts of buying on margin and short selling, including the calculations related to margin calls.

Comprehend the roles and processes involved in the issuance of new stocks including the roles of investment bankers.

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