Ask Question
BusinessBusiness
24 December, 04:52

In economics, money is defined as A. the total value of one's assets minus the total value of one's debts, in current prices. B. the total value of one's assets in current prices. C. the total amount of salary, interest, and rental income earned during a year. D. any asset people generally accept in exchange for goods and services.

+3
Answers (1)
  1. 24 December, 05:31
    0
    D. any asset people generally accept in exchange for goods and services.

    Explanation:

    Money is any asset this is generally accepted by people in the exchange of goods and services.

    Characteristics of money

    1. Durability: it should retain its usefulness for a long time.

    2. Stable - it should be able to retain its value

    3. Portable - it should be easy to transport money from one location to another

    4. Recognisable - it should be generally recognised by the population as money.

    Uses of money

    1. Money can be used as a store of value.

    2. It can be used as a unit of account. It should be able to be used to value goods and services.

    3. Medium of exchange. It can be used to exchange for goods and services.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In economics, money is defined as A. the total value of one's assets minus the total value of one's debts, in current prices. B. the total ...” 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
Bramble Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. Feb.
Answers (1)
The Assembly Department had 4,900 units of beginning inventory in September , and 5,700 units were transferred to it from the Cutting Department.
Answers (1)
Wiley Company purchased new equipment for $42,000. Wiley paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $3,000; sales tax paid $2,400; and installation cost, $2,300.
Answers (1)
Frazier Manufacturing Company collected the following production data for the past month: Units Produced Total Cost 1,600 $66,000 1,300 57,000 1,500 67,500 1,100 49,500 If the high-low method is used, what is the monthly total cost equation? a.
Answers (1)
In January, Hometown Ice Cream Shoppe reported the following balances in their income statement accounts. Based on this information, the closing entry to Retained Earnings will be?
Answers (1)
New Questions in Business
Personal Selling is: a. The two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision. b.
Answers (1)
Potanta is a company that manufactures herbal soaps. Over the years, the availability of aloe vera pulp, which is the keyingredient of the company's best-selling aloe vera soaps, has reduced.
Answers (1)
An advertiser enables target cost-per-acquisition (cpa) bidding and notices that conversions decrease. what might cause this?
Answers (1)
A trigger strategy is a strategy that: A. is not relevant to oligopolies. B. determines when to enter an industry. C. depends on an opponent's past decisions. D. tells a business to leave the industry because the price is below the AVC.
Answers (1)
What is the effect on the supply curve for skateboards if the government implements a tax on the manufacturing process?
Answers (1)
Home » Business » In economics, money is defined as A. the total value of one's assets minus the total value of one's debts, in current prices. B. the total value of one's assets in current prices. C.
Sign Up Forgot Password?