check for understanding i - types of currency...
check for understanding i - types of currency fundamentals of business finance: money & credit 2 of 5 select all of the following which are examples of representative money. credit cards paper checks the euro the u.s. dollar
Answer
# Brief Explanations:
Representative money is a claim on a commodity that can be redeemed. Credit cards are a form of borrowing, not representative money. Paper - checks represent a claim on funds in a bank account and are representative money. The euro and the U.S. dollar are fiat money, not representative money as they are not directly tied to a specific commodity for redemption in the modern monetary system.
# Answer:
B. Paper checks