BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Main functions of Money?
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Medium of Exchange
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Unit of Account
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Store of Value
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A, B and C of the above
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Explanation:
Detailed explanation-1: -Money serves several functions: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment.
Detailed explanation-2: -Money functions as a medium of exchange, allowing individuals to trade goods and services with one another. It also serves as a store of value, allowing people to save wealth over time. Lastly, it functions as a unit of value, enabling people to compare the worth of different items.
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