Which Statement Best Illustrates the Unit of Account Function of Money

question 71

Multiple Choice

Which statement best illustrates the unit of account function of money?

• A) You list prices for candy sold on your website,www.sweettooth.com,in dollars.
• B) You pay for your NHL tickets with dollars.
• C) You keep $10 in your backpack for emergencies.
• D) You sell a used copy of your textbook for $40.

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Definitions:

Tax Returns

Documents filed with the IRS that report income, expenses, and other pertinent tax information. Tax returns determine tax liability or refund eligibility for an individual or company.

Contingent Fees

Fees for services, such as legal representation, that are payable only if a particular outcome is achieved.

IRS

Internal Revenue Service, the U.S. government agency responsible for tax collection and enforcement of tax laws.

Internal Revenue Code

The collection of laws governing federal taxation in the United States, defining tax rates, deductions, credits, and procedures.