The Confidence You Have That a Retailer Will Accept Dollars

question 38

Multiple Choice

The confidence you have that a retailer will accept dollars in exchange for goods is based primarily on money

• A)being a unit of account.
• B)being a medium of exchange.
• C)serving as a store of value.
• D)having intrinsic value.

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Definitions:

Monetary Unit

A standard unit of value in which economic transactions are recorded and the primary currency used within an economy.

Legal Taxable Entity

An organization or individual that is recognized by law as a separate legal entity for tax purposes.

Shares Of Stock

Representations of ownership in a corporation, each of which entitles the shareholder to a fraction of the company's assets and profits, depending on the amount of shares owned.

Corporation

A legal entity separate from its shareholders, with its own rights, privileges, and liabilities.