Question 1

What three functions does money perform in our society?

Accepted Answer

- medium of exchange: for trad

Question 2

Which of the following is correct regarding ecash?

Accepted Answer

A)  It is part of the established network of banks,cheques,and paper currency. 
B)  Ecash transactions are more expensive than handling cheques and paper records. 
C)  Ecash can be lost if the issuer's computer system crashes and the money that is "banked" in memory is lost. 
D)  Tight controls over ecash have been established to prevent hackers from stealing the money. 
E)  Ecash can be purchased only from banks. 
A)  It is part of the established network of banks,cheques,and paper currency. 
B)  Ecash transactions are more expensive than handling cheques and paper records. 
C)  Ecash can be lost if the issuer's computer system crashes and the money that is "banked" in memory is lost. 
D)  Tight controls over ecash have been established to prevent hackers from stealing the money. 
E)  Ecash can be purchased only from banks.

Question 3

Heather told her friends she just bought $1000 worth of new clothes.Heather's statement illustrates the "unit of account" function of money.

Accepted Answer

A) True 
 B)False

Question 4

Credit unions lend money to consumers,but not to businesses.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following do not make loans to business firms?

Accepted Answer

A)  Sales finance companies 
B)  The Business Development Bank of Canada 
C)  Credit unions 
D)  Consumer finance companies 
E)  All of these do make loans to business firms 
A)  Sales finance companies 
B)  The Business Development Bank of Canada 
C)  Credit unions 
D)  Consumer finance companies 
E)  All of these do make loans to business firms

Question 6

Joanne has money in a ___________; this requires notice prior to making a withdrawal and cannot be transferred to others by a written cheque.

Accepted Answer

A)  demand deposit 
B)  money market fund 
C)  cookie jar 
D)  certified cheque 
E)  time deposit 
A)  demand deposit 
B)  money market fund 
C)  cookie jar 
D)  certified cheque 
E)  time deposit

Question 7

As the value of the Canadian dollar has increased,Canadian companies are finding it more difficult to compete internationally because exported goods have become more expensive for foreign buyers.

Accepted Answer

A) True 
 B)False

What three functions does money perform in our society?

Which of the following is correct regarding ecash?

Heather told her friends she just bought $1000 worth of new clothes.Heather's statement illustrates the "unit of account" function of money.

Credit unions lend money to consumers,but not to businesses.

Which of the following do not make loans to business firms?

Joanne has money in a ___________; this requires notice prior to making a withdrawal and cannot be transferred to others by a written cheque.

As the value of the Canadian dollar has increased,Canadian companies are finding it more difficult to compete internationally because exported goods have become more expensive for foreign buyers.

Understanding the Canadian Business System

Understanding the Environments of Business

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Understanding Marketing Processes and Consumer Behaviour

Developing and Promoting Goods and Services

Pricing and Distributing Goods and Services

Understanding Securities and Investments

Financial Decisions and Risk Management

Filters

Exam 18: Understanding Money and Banking

What three functions does money perform in our society?

Which of the following is correct regarding ecash?

Heather told her friends she just bought $1000 worth of new clothes.Heather's statement illustrates the "unit of account" function of money.

Credit unions lend money to consumers,but not to businesses.

Which of the following do not make loans to business firms?

Joanne has money in a ___________; this requires notice prior to making a withdrawal and cannot be transferred to others by a written cheque.

As the value of the Canadian dollar has increased,Canadian companies are finding it more difficult to compete internationally because exported goods have become more expensive for foreign buyers.

Understanding the Canadian Business System

Understanding the Environments of Business

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Understanding Marketing Processes and Consumer Behaviour

Developing and Promoting Goods and Services

Pricing and Distributing Goods and Services

Understanding Securities and Investments

Financial Decisions and Risk Management

Filters