Functions and Role of Money
Authored by David Urquhart
Business
12th Grade
Used 274+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money that is left over once all of your bills and outgoings have been paid is called disposable income
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It allows us to place a monetary value on goods and services
Means of exchange
Unit of Account
Store of Value
Legal Tender
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It allows us to trade
Means of exchange
Unit of Account
Store of Value
Legal Tender
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A unit of account allows us to place a .................... value on goods and ................
estimated/products
monetary/services
certain/products
monetary/products
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Legal Tender is a legally recognised form of payment
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Something that a business owns or is owed
Asset
Cost
Liability
Overdraft
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is not true of bankruptcy?
Effects ability to achieve future credit
Loss of all assets
Can lead to a damaged reputation
Can still become a director of a company
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