[amp_mcq option1=”Medium of exchange” option2=”Measure of value” option3=”Basis of deferred payments” option4=”None of these” correct=”option3″]<\/p>\n
The correct answer is: C. Basis of deferred payments<\/strong>.<\/p>\n Money is a medium of exchange, a unit of account, and a store of value. It is a medium of exchange because it is a widely accepted means of payment for goods and services. It is a unit of account because it is a standard measure of value in which prices are expressed and debts are recorded. It is a store of value because it can be held over time and used to purchase goods and services in the future.<\/p>\n The secondary function of money is as a basis of deferred payments. This means that money can be used to make payments that are due in the future. For example, you can use money to buy a house or a car, even though you will not receive the goods or services until the future.<\/p>\n The other options are not correct. Option A, medium of exchange, is the primary function of money. Option B, measure of value, is another primary function of money. Option D, none of these, is incorrect because it is not one of the functions of money.<\/p>\n","protected":false},"excerpt":{"rendered":" [amp_mcq option1=”Medium of exchange” option2=”Measure of value” option3=”Basis of deferred payments” option4=”None of these” correct=”option3″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[699],"tags":[],"class_list":["post-33061","post","type-post","status-publish","format-standard","hentry","category-banking-and-financial-institutions","no-featured-image-padding"],"yoast_head":"\n