Which of the Following Is Not True About Money

question 100

Multiple Choice

Which of the following is not true about money?

• A) It promotes the specialization of labor.
• B) It is a mechanism for transforming current income into future purchases.
• C) It must be minted by the government in order to have value.
• D) It facilitates the continuous series of exchanges that characterize a market economy.

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Definitions:

CCA Class

In the context of tax regulations, CCA Class (Capital Cost Allowance Class) pertains to categories defined by tax authorities for depreciating tangible property over its useful life for tax purposes.

Net Advantage to Leasing

The benefit that arises from leasing an asset rather than purchasing it, considering factors like tax advantages and cash flow.

Tax Rate

The rate at which a person or business is taxed by the state on their earnings or gains.

CCA Rate

Capital Cost Allowance rate, which is the rate at which a business can claim depreciation on certain property types for tax purposes in Canada.