Which List Correctly Names Money's Functions

question 262

Multiple Choice

Which list correctly names money's functions?

• A) a unit of account, a store of value, a medium of exchange
• B) barter, a double coincidence of wants, a unit of account
• C) transaction costs, a medium of exchange, a unit of account
• D) liquidity, barter, a medium of exchange

Identify the powers and responsibilities of a liquidator during the liquidation process.

Understand the classification of creditors and the order of priority in debt repayment during liquidation.

Understand the accounting treatment and main accounts used in the liquidation process.

Understand the purpose and preparation of liquidation accounts and the calculation of surplus or deficiency.

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Definitions:

Payroll Liabilities

Financial obligations related to employee compensation, including owed wages, salaries, and other benefits, which a company must pay.

CPP Contributions

Payments made into the Canada Pension Plan by workers and employers to fund future retirement, disability, or survivor benefits.

EI Premiums

Contributions made by employees and employers to the Employment Insurance (EI) program, which provides temporary financial assistance for unemployed workers.