B. travelers checks that have been issued C. currency in the vaults of commercial banks. D demand deposits at commercial banks. 12. The primary concern of current critics of fiat money is that A. fiat money is too costly to produce. B. governments issue too much money threatening its value C. fiat money is too easy to counterfeit D. government will issue too little threatening economic growth Section 2. MINI-TASKS (max 15 points, 5 points each) 1. Company A had the following operating results: sales EUR 19 900; cost of goods sold EUR 14 200; depreciation expense EUR 2 700; interest expense EUR 670; dividends paid EUR 650. At the beginning of the year, net fixed assets were EUR 15 340, current assets were EUR 4 420, and current liabilities were EUR 2 470. At the end of the year, net fixed assets were EUR 16 770, current assets were EUR 5 135, and current liabilities were EUR 2 535. The tax rate for was 40 percent. What is net income? What is the operating cash flow? 2. Diana wants to have EUR 2 000 in spending money to take on a trip to Paris in three years. How much must she deposit now in a savines account that navs 5% to have the