Money's Function as a Unit of Account Can Best Be

question 59

Multiple Choice

Money's function as a unit of account can best be described as

• A)an agreed measure for stating the prices of goods and services.
• B)an entry in an accounting ledger.
• C)a method of recording transactions.
• D)a commodity that can be exchanged for another commodity.
• E)a generally accepted medium of exchange.

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Definitions:

RFP

Request for Proposal; a document that announces and provides details about a project, inviting suppliers to bid to complete it.

Latitude

The angular distance of a place north or south of the earth's equator, typically expressed in degrees and minutes.

Credibility

The quality of being trusted and believed in, often associated with accuracy and reliability.

Skepticism

An attitude of questioning or doubting the validity or authenticity of something supposed to be factual.