​Something Used to Make Payments for Other Goods and Services

question 70

Short Answer

​Something used to make payments for other goods and services as well as to measure their value is called _______________.

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Definitions:

Net Assets

The total assets of a company minus its total liabilities, representing the owners' equity in the company.

Business Combination

Represents a transaction or event where an acquirer obtains control of one or more businesses.

Journal Entry

A record in bookkeeping that logs the debit and credit aspects of a financial transaction.

Retained Earnings

The portion of a business's profits not distributed to shareholders, reinvested in the business instead.