In Which of the Following Situations Is It Correct to Use

question 37

Multiple Choice

In which of the following situations is it correct to use the personal business style for a letter?

• A)when you know the receiver personally
• B)when you need to add your own name to a letter formatted in block style
• C)when you aren't using printed letterhead paper
• D)when the letter is not business-related

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Definitions:

Fractional Reserves

A banking system in which banks hold a fraction of their depositors' funds in reserve, lending out the remainder to earn interest.

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen, representing the benefits an individual, investor, or business misses out on when choosing one option over another.

Fiat Money

Currency that a government has declared to be legal tender, despite it lacking intrinsic value and not being backed by physical commodities.

Legal Tender

Government-issued currency that, by law, must be accepted as a form of payment within the country.