One of the Functions of Money Is to Serve as A

question 132

Multiple Choice

One of the functions of money is to serve as a:

• A) valuation tool.
• B) medium of exchange.
• C) sole way to make payments.
• D) completely fixed unit of measure.

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Definitions:

Credit Balance

A situation where the total credits in an account exceed the total debits, common in liability and revenue accounts.

Income Tax Instalment

Payments made to tax authorities in installments rather than a lump sum, typically for estimated taxes.

Age

The length of time that a person or entity has been alive or in existence.

Death

The cessation of all biological functions that sustain a living organism.