ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Store of value
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Measure of value
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Medium of exchange
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Standard of deferred payment
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Detailed explanation-1: -A deferred payment is one that is delayed, either completely or in part, in order to give the person or business making the payment more time to meet their financial obligations. In accounting terms, any merchant allowing customers to set up a deferred payment agreement will be dealing with accrued revenue.
Detailed explanation-2: -Most forms of money can act as standards of deferred payment including commodity money, representative money and most commonly fiat money. Representative and fiat money often exist in digital form as well as physical tokens such as coins and notes.
Detailed explanation-3: -Loan Payment Deferrals Deferred payments are an agreement between you and your lender to make later payments. Even though the payments have been delayed, you are still obligated to make them. In addition to the delay, interest may accumulate during the deferral period, increasing your original payment amount.