In Explaining Money to His Twelve-Year-Old, Mike, the President of a Small

question 139

Multiple Choice

In explaining money to his twelve-year-old, Mike, the president of a small business, said that money is "symbolic." This should be correctly interpreted to mean that money is

• A) an artificial device that aids in the exchange of resources for products, services, and resources.
• B) a tangible asset.
• C) meaningless.
• D) abstract rather than practical.
• E) beneficial to the buyer, not the seller.

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Definitions:

Digital Image

A representation of a visual image in a format that can be stored, viewed, or transmitted electronically.

Original Check

A document that is written, signed, and ready for use or deposit as payment.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, intended to harmonize the law of sales and other commercial transactions across American states.

Processing Checks

Involves the procedures and steps taken by banks or financial institutions to verify and complete the transaction of a written check.