It is known that Chinese was the first nation to introduce paper money (Ninth Century AD).
Its original name was 'flying money' because it was so light it could blow out of one's hand. As 'exchange certificates' used by merchants, paper money was quickly adopted by the government for forwarding tax payments. Real paper money, used as a medium of exchange and backed by deposited cash (a Chinese term for metal coins), apparently came into use in the tenth century.
Why were paper money invented in China? Give your suggestions.
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Countable or uncountable?
Decide what is wrong in the following sentences. Make the necessary changes.
| 1. Coins made of a gold and a silver were first minted in Greece. |
| 2. Accounting was used as a mean of evaluating the efficiency of governmental programs in Pre-Christian China. |
| 3. In ancient times merchants kept their good in temples. |
| 4. Romans treated gold not as a valuable, but rather as a mere article of exchange. |
| 5. There was time when people used different objects as monies. |
| 6. Quaestors gave advices to the Roman senate on public expenditures. |
| 7. Citizens submitted an information about their assets and liabilities to the senate. |
| 8. Widespread use of coinage in ancient Greece took much times. |
| 9. Progress in accounting were achieved with use of papyrus. 10. The news about the treasury operations were very good. 11. Persons were to pay taxes even in ancient times. |
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