ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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portability
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currency
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durability
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age
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Detailed explanation-1: -Durability: Objects used as money must withstand the physical wear and tear that comes with being used over and over again.
Detailed explanation-2: -currency. 6. The fact that money must withstand the wear and tear that comes from being used over and over again is a measure of its c. durability.
Detailed explanation-3: -Definition: The monetary value of an asset decreases over time due to use, wear and tear or obsolescence. This decrease is measured as depreciation.
Detailed explanation-4: -Any two units of money must be uniform, that is, the same, in terms of what they will buy. Money must be available only in limited quantities. Everyone must be able to exchange the money for goods and services. Commodity money consists of objects that have value in themselves.
Detailed explanation-5: -First, money serves as a medium of exchange, which means that money acts as an intermediary between the buyer and the seller. Instead of exchanging accounting services for shoes, the accountant now exchanges accounting services for money. This money is then used to buy shoes.