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:

Stockholders' Equity

The residual interest in the assets of a corporation after deducting liabilities, representing ownership equity spread among shareholders.

Assets

Assets are possessions or property that a company owns or controls with the anticipation of receiving future economic gains.

Expenses

Costs incurred in the process of earning revenue; may include costs like rent, salaries, and utilities.

Business Transaction

An economic event or condition that directly changes an entity’s financial condition or directly affects its results of operations.