Which of the Following Is NOT a Function of Money

question 37

Multiple Choice

Which of the following is NOT a function of money?  

• A) to act as a medium of exchange 
• B) to act as a unit of account 
• C) to facilitate trade 
• D) to provide a double coincidence of wants

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Definitions:

Withheld FICA Tax

Taxes taken out of an employee's paycheck for Social Security and Medicare.

Excess Social Security Tax

The amount of Social Security taxes paid over the maximum limit set for the year, which can occur when an individual works for multiple employers.

Form 1040

The conventional form from the Internal Revenue Service (IRS) employed by individuals to declare their annual income taxes.

Withholding Allowances

A number that employees claim on a W-4 form that determines the amount of money withheld from their paycheck for taxes.