The Most Direct Way in Which Money Eliminates the Need

question 67

Multiple Choice

The most direct way in which money eliminates the need for a double coincidence of wants is through its use as a

• A)store of value.
• B)unit of account.
• C)standard of deferred payment.
• D)medium of exchange.

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Definitions:

Measurement Principle

In accounting, this principle refers to the basis under which business transactions and elements of the financial statements are quantified in monetary terms.

Subjective Opinion

An individual's personal and biased view, influenced by feelings, tastes, or opinions.

Going-concern Assumption

An accounting principle that assumes a company will continue to operate for the foreseeable future, not liquidate or reduce its operations significantly.

Operating

Pertaining to the ongoing, day-to-day activities necessary for an entity to function, including production, sales, and administrative tasks.