When Money Is Used as a Means to Hold Wealth

question 97

Multiple Choice

When money is used as a means to hold wealth, it serves as a:

• A)double coincidence of wants.
• B)store of value.
• C)medium of exchange.
• D)unit of account.

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Definitions:

Payee

The individual or entity to whom a payment is made or owed, especially noted in the context of checks or promissory notes.

Certify

To officially recognize, attest, or confirm something as true, accurate, or within a set of standards.

Heirs

Individuals legally entitled to inherit a deceased person's assets under statutory or testamentary succession laws.

Stop-payment Order

A request made to a bank by an account holder to not pay a check or payment that has been issued but not yet processed.