Which of the Following Is a Primary Function of Money

question 408

Multiple Choice

Which of the following is a primary function of money?

• A) to serve as a unit of account
• B) to serve as an encouragement to work
• C) to reduce the burden of excessive imports
• D) to raise funds for the government

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Definitions:

FASB Conceptual Framework

A set of objectives and fundamentals developed by the Financial Accounting Standards Board to guide the creation of accounting standards.

Asset Characteristics

The inherent properties and qualities of an asset that affect its value, performance, and risk profile.

MACRS Depreciation

The Modified Accelerated Cost Recovery System is a method of depreciation used for tax purposes in the United States, allowing for faster depreciation in the early years of an asset's life.