BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following option is not a type of function of money?
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primary task
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ancillary work
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modern work
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ancillary work
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Explanation:
Detailed explanation-1: -Therefore, power indicator is not a function of money.
Detailed explanation-2: -Money serves several functions: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment.
Detailed explanation-3: -To summarize, money has taken many forms through the ages, but money consistently has three functions: store of value, unit of account, and medium of exchange.
Detailed explanation-4: -The 4 different types of money as classified by the economists are commercial money, fiduciary money, fiat money, commodity money. Money whose value comes from a commodity of which it is made is known as commodity money.
There is 1 question to complete.