Fiat Money

question 5

Multiple Choice

Fiat money

• A)has no intrinsic value.
• B)is backed by gold.
• C)is a medium of exchange but not a unit of account.
• D)is any close substitute for currency such as checkable deposits.

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Definitions:

Attorney General

The chief legal advisor to the government, often responsible for representing the country in legal matters.

Court Action

A formal proceeding in which legal claims are resolved by a judge or jury, encompassing the entirety of the lawsuit process.

Charter Through Fraud

The act of illegally obtaining a corporate charter or government authorization for operation through deceptive practices.

Dissolution and Liquidation

The process of formally closing a business, involving settling debts, distributing assets to shareholders, and ceasing operations.