What Function of Money Is Highlighted When Sally Pays Her

question 38

Multiple Choice

What function of money is highlighted when Sally pays her cell phone bill with cash?

• A) fiat money
• B) medium of exchange
• C) unit of account
• D) store of value
• E) commodity money

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Definitions:

Breach Duties

The failure to perform obligations or duties as prescribed in a contract or by law.

Credit Standing

An assessment or evaluation of an individual's or entity's ability to repay obligations or debts.

Sole Proprietors

Individuals who own and operate their business by themselves, having complete control and bearing ultimate legal and financial responsibility.

Asset

Anything of value owned by a person or company that can be used or sold to pay debts or generate income.