Answer:
D. money that is authorized by a central bank and that does not have to be exchanged for gold or some other commodity money
Explanation:
By definition, fiat money is a physical money that is made a legal tender by the government or other authoritative figure.
It is not backed by any physical commodity like silver or gold but only by the government that distributed it . Additionally, if inflation occurs in a country that uses fiat money as a legal tender, the owners will go at a huge loss since it cannot be redeemed and in worst case scenario such as hyperinflation, it will be worthless.
Answer:
Liability of un-redeemed coupons Pending on December 31, 2018 is $60,000
Explanation:
Coupon already expired issued on Jan 01, 2018
Coupon issued on 07/01/2018 <u>$830,000</u>
Estimated redeemable coupon value - 50% $415,000
($830,000 * 50%)
Less : Disbursed <u>$355,000</u>
Liability pending on Dec. 31, 2018 <u>$60,000</u>
What are your answer choices ?
Answer:
$600
Explanation:
Given:
Total number of week = 50 Trip
Each trip cost = $3
Number of working days in a week = 5
After 10% Inflation rate number of trip = 50 (one day in a week = 1 x 50 weeks )
Calculation:
Without inflation Trip = 50 trip x 5 Days
= 250 trip
After Inflation = 250 - 50 Trips
= 200 Trips
Total cost = 200 x 3$
= $600
