Which Function of Money Allows It to Replace Barter in the Economy

question 87

Multiple Choice

Which function of money allows it to replace barter in the economy?

• A)Medium of exchange.
• B)Store of value.
• C)Unit of account.
• D)Medium of exchange,store of value,and unit of account.

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Definitions:

Financial Reports

Official records that detail a company's financial activities and condition, including balance sheets, income statements, and cash flow statements.

Generally Accepted Accounting Principles

A set of accounting standards and practices that are used in the preparation of financial statements to ensure accuracy and consistency.

Management's Functions

The core roles and responsibilities of management, including planning, organizing, leading, and controlling organizational resources.

Planning

The method of establishing objectives, formulating strategies, and detailing the tasks and timelines to achieve these objectives.