The Three Important Functions of Money Are _____

question 136

Multiple Choice

The three important functions of money are _____

• A) serving as a medium of exchange, facilitating trade, and serving as a unit of account.
• B) serving as a unit of account, facilitating trade, and serving as a store of value.
• C) serving as a store of value, facilitating trade, and ensuring a double coincidence of wants.
• D) facilitating trade, serving as a medium of exchange, and serving as a unit of account.
• E) serving as a medium of exchange, a unit of account, and a store of value.

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Definitions:

Net Operating Income

A measure of a company's profitability, calculated by subtracting operating expenses from gross profit.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity level.

Net Operating Income

The profit derived from a company's everyday operations, calculated by subtracting operating expenses from gross profit.

Planning Budget

A budget prepared for a specific level of activity; it can be adjusted to reflect various levels of operation.