Which of the Following Counts as Part of M1

question 245

Multiple Choice

Which of the following counts as part of M1?

• A)$5,000 worth of gold
• B)$5,000 worth of government bonds
• C)$5,000 in a checking account
• D)$5,000 credit line on a credit card
• E)$5,000 of real estate

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Definitions:

Funeral Expenses

Costs incurred for services and materials related to the burial or cremation of a deceased individual.

Journal Entry

A notation in financial records that captures the debit and credit movements across accounts resulting from business transactions.

Fair Value

An estimate of the market value of an asset or liability, based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.