Which Function of Money Allows for Comparison Shopping

question 54

Multiple Choice

Which function of money allows for comparison shopping?

• A) Medium of exchange
• B) Unit of accounting
• C) Store of value
• D) Standard of deferred payment

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Definitions:

Information Technology

The use of computers, storage, networking, and other physical devices, infrastructure and processes to create, process, store, secure and exchange all forms of electronic data.

IFRS

A global set of accounting guidelines created by the International Accounting Standards Board (IASB), known as the International Financial Reporting Standards.

GAAP

Generally Accepted Accounting Principles, which are a set of rules and standards for financial reporting followed by companies in the United States.

Principles-Based

An approach to accounting and regulation that emphasizes general guidelines and values to govern behavior rather than precise rules.