CIS 440 Midterm questions with verified
answers already passed
Commerce - correct answer ✔✔the activity of buying and selling, especially on a large scale,
social dealings between people
e-commerce - correct answer ✔✔The use of the Internet , the Web, and apps to transact
business.
Fiat Money - correct answer ✔✔a currency established as money by government regulation or
law.
Legal tender - correct answer ✔✔a medium of payment recognized by a legal system to be valid
for meeting a financial obligation.
Primary functions of money - correct answer ✔✔Medium of exchange
Measure of value / unit of account
Standard of deferred payment -accepted way to settle a debt
Store of value
Transfer of value
Medium of exchange - correct answer ✔✔vTransportable
vDivisible
vHigh market value
vRecognizable
vResistant to counterfeit
, Unit of account - correct answer ✔✔vDivisible
vFungible
vCountable
Store of value - correct answer ✔✔vSavable
vStorable
vRetrievable
vValuable Upon Retrieval
Standard of deferred payment - correct answer ✔✔vDebt and Credit
vTender
nmedium of payment
vLegal Tender
Bitcoin - correct answer ✔✔cryptocurrency and worldwide payment system. It is the first
decentralized digital currency, as the system works without a central bank or single
administrator.
blockchain. - correct answer ✔✔These transactions are verified by network nodes through the
use of cryptography and recorded in a public distributed ledger called
Acquiring Bitcoins - correct answer ✔✔1. Bitcoin exchange
2. purchase from individs already w bitcoins
3. mining
answers already passed
Commerce - correct answer ✔✔the activity of buying and selling, especially on a large scale,
social dealings between people
e-commerce - correct answer ✔✔The use of the Internet , the Web, and apps to transact
business.
Fiat Money - correct answer ✔✔a currency established as money by government regulation or
law.
Legal tender - correct answer ✔✔a medium of payment recognized by a legal system to be valid
for meeting a financial obligation.
Primary functions of money - correct answer ✔✔Medium of exchange
Measure of value / unit of account
Standard of deferred payment -accepted way to settle a debt
Store of value
Transfer of value
Medium of exchange - correct answer ✔✔vTransportable
vDivisible
vHigh market value
vRecognizable
vResistant to counterfeit
, Unit of account - correct answer ✔✔vDivisible
vFungible
vCountable
Store of value - correct answer ✔✔vSavable
vStorable
vRetrievable
vValuable Upon Retrieval
Standard of deferred payment - correct answer ✔✔vDebt and Credit
vTender
nmedium of payment
vLegal Tender
Bitcoin - correct answer ✔✔cryptocurrency and worldwide payment system. It is the first
decentralized digital currency, as the system works without a central bank or single
administrator.
blockchain. - correct answer ✔✔These transactions are verified by network nodes through the
use of cryptography and recorded in a public distributed ledger called
Acquiring Bitcoins - correct answer ✔✔1. Bitcoin exchange
2. purchase from individs already w bitcoins
3. mining
