Sir Isaac Newton established the price of gold in 1717 and de facto put England on the gold standard.
Answer the following statement true (T) or false (F)
True
The great mathematician Newton headed the Royal Mint and established the price of gold in British currency at 3 pounds, 17 shillings, 10.5 pence. Britain's trading partners followed Britain's lead.
You might also like to view...
Which of the following is most likely an objective of informative advertising?
A) build brand preference B) change customer perceptions of brand value C) encourage customers to switch brands D) suggest new uses for a product E) keep the brand in customer minds during off-seasons
Which of the following is the primary benefit of using a traditional publishing house to publish a book?
A) few time restraints B) limited guidelines C) high commission rate D) short-term negotiations E) marketing support
According to GAAP, goodwill should
a. be expensed when acquired. b. be amortized over its useful life. c. be written down when an impairment occurs. d. never be expensed, amortized, or written down.
On January 1, a company issues 8%, 5-year, $300,000 bonds that pay interest semiannually. On the issue date, the annual market rate of interest is 6%. The following information is taken from present value tables: Present value of an annuity for 10 periods at 3%8.5302Present value of an annuity for 10 periods at 4%8.1109Present value of 1 due in 10 periods at 3%0.7441Present value of 1 due in 10 periods at 4%0.6756What is the issue (selling) price of the bond?
A. $300,010 B. $402,362 C. $325,592 D. $420,000 E. $308,107