What Is the Principle Role of Money

question 164

Multiple Choice

What is the principle role of money?

• A)to serve as a standard for the Bank of Canada
• B)to serve as a standard for credit transactions
• C)to serve a medium of exchange
• D)to serve as a standard for making bank loans

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Definitions:

External Suppliers

Third-party entities that provide goods or services to a company, but are not part of the company itself.

Annual Capacity

The total output a company can produce in a year using its resources efficiently.

Opportunity Cost

Forgoing the potential gains from various choices by settling on one option.

Supplying Division

The unit or segment within a larger organization responsible for providing materials, products, or services to another division or department.