As a Means of Payment,the Functions of Money Are

question 346

Multiple Choice

As a means of payment,the functions of money are

• A) medium of exchange and the ability to buy goods and services.
• B) medium of exchange, unit of account, and means of lending.
• C) pricing, contracts, and store of value.
• D) medium of exchange, unit of account, and store of value.

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Definitions:

Accounting Records

Documents and files that systematically record financial transactions and positions of a company or individual.

Tax Liability

The total amount of tax that an individual, corporation, or other entity is legally obligated to pay to a tax authority.

Backaches

A common physical discomfort or pain in the back, often resulting from strain, injury, or tension.

Ethical Behavior

Acting in ways consistent with what society and individuals typically think are good values, involving honesty, fairness, and integrity.