An Example of a Good That Can Be Used for Money

question 109

Multiple Choice

An example of a good that can be used for money that has no intrinsic value is:

• A)gold.
• B)paper dollar bills.
• C)cigarettes.
• D)None of these has intrinsic value.

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Definitions:

T Account

A skeleton version of a standard account, used for demonstration purposes.

Debit Side

The left side of an account in double-entry bookkeeping, used to record increases in assets and expenses or decreases in liabilities and equity.

Credit Side

The right side of an accounting ledger where credits are recorded, typically increasing liabilities and equity or decreasing assets.

Expenses

The money spent or costs incurred in an entity's efforts to generate revenue, representing the cost of doing business.