Which function of money is described in the following statement?
It serves as a medium through which business transactions are carried out
-
A.
Standard for deferred payments s -
B.
Medium of exchange -
C.
Store of value -
D.
Unit of account
Correct Answer: Option A
Explanation
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.