Money is best defined as:
A) anything that has a high nominal value.
B) anything that is a widely accepted means of payment.
C) only the amount we spend in a given period.
D) the total amount of fixed assets we own.

Question

Quizplus · Accepted Answer

Money is best defined as a widely accepted means of payment. It is a medium of exchange in transactions for goods and services, which is accepted by all parties involved in the transaction. Money can take different forms such as cash, checks, and electronic transfers, but it must be widely accepted for it to function effectively as a means of payment. The other options, A, C, and D, do not accurately capture the definition of money.

Money Is Best Defined As