Currency Circulated by Banks That Could Be Redeemed for Gold

question 138

Multiple Choice

Currency circulated by banks that could be redeemed for gold was called

• A)junk bonds.
• B)banknotes.
• C)gold bills.
• D)state money.

---

Definitions:

Selling Commission

A fee paid to a sales agent or an employee based on the value of sales generated.

Contribution Margin

The amount remaining from sales revenue after variable production costs have been deducted, indicating how much contributes toward covering fixed costs and generating profit.

Contribution Format

A contribution format income statement categorizes costs as variable or fixed and calculates a contribution margin.

Net Operating Income

Profits from a company's core business operations, excluding deductions of interest and taxes.