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:

Exchange Rates

The price of one type of currency when exchanged for another.

Statement Of Retained Earnings

A financial statement that outlines the changes in retained earnings for a specific period, factoring in net income and dividends paid to shareholders.

Dividends

Payments made by a corporation to its shareholder members. It’s a share of profits distributed.