Ask Question
BusinessBusiness
24 December, 18:49

When money is used to express the value of goods and services, it is functioning as a?

+5
Answers (2)
  1. 24 December, 19:42
    0
    Unit of account. The unit of account is used in economics to measure currency that is being used to represent the real value or cost of an economic item. These items can be goods, services, assets, liabilities, income and/or expenses. Units of account is one of the three well-known functions of money.
  2. 24 December, 20:27
    0
    The term money is used to describe anything that is regularly used in economic transactions or exchanges.

    When money is used to express the value of goods and services, it is functioning as a unit of account.

    This is the primary function of money, to be used a unit by which value of a thing is accounted and compared.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “When money is used to express the value of goods and services, it is functioning as a? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
How does the U. S. government promote economic growth?
Answers (1)
A company can lose its good reputation when it
Answers (2)
Striving to be the low-cost provider is a particularly attractive competitive strategy when Multiple Choice managers must launch a concerted, ongoing effort to ferret out cost-saving opportunities in every part of the value chain, for example, cost
Answers (1)
On a balance sheet, deferred taxes are classified as: 2) A) a current asset. B) a fixed asset. C) stockholders' equity. D) a long-term liability. E) a current liability
Answers (1)
A test is scheduled for Monday morning, but you went to a party on Saturday night. If you hadn't attended the party, you could have studied for the test or gone to a movie. Which of the following sentences is true? a.
Answers (1)
New Questions in Business
Rich, Inc. acquired 30% of Doane Corporation's voting stock on January 1, 2018 for $1,000,000. During 2018, Doane earned $400,000 and paid dividends of $250,000.
Answers (1)
Suppose a firm in each of the two markets listed below were to increase its price by 25 percent. In which pair would the firm in the first market listed experience a dramatic decline in sales, but the firm in the second market listed would not? A.
Answers (1)
The right of ___ is when businesses can compete against each to sell their goods and services to buyers. private property competition freedom of choice demand
Answers (1)
Which of the following is a claim against sporting goods giants such as Adidas, Puma, and Nike and the conditions in their international manufacturing plants?
Answers (1)
A put writer would be "covered" by: (A) A long call (B) Another short put (C) Cash equal to the strike price multiplied by 100 shares (D) An escrow receipt for 100 shares of the underlying stock
Answers (1)
Home » Business » When money is used to express the value of goods and services, it is functioning as a?
Sign Up Forgot Password?