Ask Question
BusinessBusiness
22 July, 03:28

This is a kind of money due to the government decree (or saying that is will be used as money).

+3
Answers (1)
  1. 22 July, 07:07
    0
    Fiat Money

    Explanation:

    if the currency is without an intrinsic value (value because of the nature of tangible material used as money for e. g. govt issued banknotes) and become money because of government's decision it is called Fiat Money, it is opposite of commodity money (money created from precious metals like gold and silver) and representative money (money that represents something of value, but has little value of its own like paper money). Fiat money holds its value either because of regulation or agreement of parties engaging in its exchange.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “This is a kind of money due to the government decree (or saying that is will be used as money). ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Yummy Foods purchased a one-year hazard insurance policy on August 1 and recorded the $4,200 premium to prepaid insurance. At its December 31 year-end, Yummy Foods would record which of the following adjusting entries? A.
Answers (1)
The hospital where jack works has a step-by-step process for treating heart attack victims. this is an example of a (n) psychology
Answers (1)
Treasure Mountain International School in Park City, Utah, is a public middle school interested in raising money for next year's Sundance Film Festival.
Answers (1)
Houghton Company has the following items: common stock, $1,790,000; treasury stock, $210,000; income taxes payable, $280,000; and retained earnings, $870,000. What is the total amount Houghton Company should report as shareholders' equity?
Answers (1)
Which of the following does not apply to field? a. it can be updated. b. the name should reflect the contents. c. it can hold both numerals and letters. d. it is made up of several records.
Answers (1)
New Questions in Business
Which type of distribution is used when the producer wants more than one, but fewer than all, of the intermediaries who are willing to carry its products? A. exclusive B. selective C. intensive D. administered E. corporate
Answers (1)
Soap Company manufactures soap X and soap Y and can sell all it can make of either. Hours available to produce the products are the constrained resources.
Answers (1)
Sky High Seats manufactures seats for airplanes. The company has the capacity to produce 100,000 seats per year, but currently produces and sells 75,000 seats per year.
Answers (1)
All other things the same, in periods of increasing sales, net operating income will tend to increase more rapidly in a company with high variable costs and low fixed costs than in a company with high fixed costs and low variable costs.
Answers (1)
Greger Peterson is a senior manager at a public accounting firm making a base salary of $180,000 a year ($15,000 per month). Employers are required to withhold a 6.2% Social Security tax up to a maximum base amount and a 1.
Answers (1)
Home » Business » This is a kind of money due to the government decree (or saying that is will be used as money).
Sign Up Forgot Password?