You Saved $500 in Currency in Your Piggy Bank to Purchase

question 71

Multiple Choice

You saved $500 in currency in your piggy bank to purchase a new laptop. The $500 you kept in your piggy bank illustrates money's function as a _______. The laptop's price is posted as $500. The $500 price illustrates money's function as a _____. You use the $500 to purchase the laptop. This transaction illustrates money's function as a ______.

• A)store of value, medium of exchange, unit of account
• B)store of value, unit of account, medium of exchange
• C)medium of exchange, unit of account, store of value
• D)medium of exchange, store of value, unit of account

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Definitions:

Nonprofit Organization

An organization dedicated to furthering a particular social cause or advocating for a shared point of view, operating without the goal of profit.

Consolidated Financial Statements

Financial statements that combine the accounts of the parent company with those of its subsidiaries, presenting the financial position and results of operations of the group as a single entity.

Subsidiary's Share Capital

The amount of money that a subsidiary has received from shareholders in exchange for shares of stock.

Non-Controlling Interest (NCI)

A portion of the equity in a subsidiary not owned by the parent company, representing the minority shareholders' interest in the company's net assets.