JAMB - Commerce (2019 - No. 80)
Which function of money is described in the following statement?
It serves as a medium through which business transactions are carried out
It serves as a medium through which business transactions are carried out
Standard for deferred payments s
Medium of exchange
Store of value
Unit of account
Uitleg
Since money can be stored, it can accumulated to pay debts and can serve as a medium by which business transactions on credit can be settled.