A Medium of Exchange,by Definition,is

question 103

Multiple Choice

A medium of exchange,by definition,is

• A) the infrastructure used to transport and sell goods and services.
• B) the method used to buy and sell,be it barter or personal checks.
• C) paper bills and coins that are used to buy goods and services.
• D) precious metals that hold inherent value.
• E) what people trade for goods and services.

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Definitions:

Units-of-production Method

a depreciation technique that allocates the cost of an asset over its useful life based on the number of units it produces.

Straight-line Method

A method of calculating depreciation of an asset, which spreads the cost evenly over its useful life.

Depreciation Expense

An accounting method that allocates the cost of a tangible asset over its useful life.