The unit of account is defined as
A) the medium of exchange.
B) the exchange of goods and services directly for other goods and services.
C) barter.
D) an object that is accepted in return for goods and services.
E) an agreed upon measure for stating prices of goods and services.

Question

Quizplus · Accepted Answer

The unit of account is a standard numerical unit of measurement of the market value of goods, services, and other transactions. It is an agreed upon measure for stating the prices of goods and services, making it easier to compare the value of different items.

The Unit of Account Is Defined as