A Medium of Exchange Is

question 8

Multiple Choice

A medium of exchange is

• A) anything that is generally accepted in exchange for goods and services.
• B) a common measurement in which relative values are expressed.
• C) an item's ability to hold value over time.
• D) the exchange of goods and services for other goods and services.
• E) both a and d

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Definitions:

Accounts Payable Balance

The total amount of money a company owes to its suppliers or vendors for products and services purchased on credit.

Disbursement To Suppliers

The payment made by a company to its suppliers for goods or services received.

Operating Cycle

The average time period between the acquisition of inventory by a business and the receipt of cash from the sale of that inventory.

Acquisition Of Inventory

The process of obtaining goods and materials for a company's operations, which could be for immediate use or to keep as stock for future sale or production.