One hundred dollars on deposit in a cheque account represents the use of money as a:
A)medium of exchange.
B)store of value.
C)unit of account.
D)coincident exchange.
E)treasure.

Question

Quizplus · Accepted Answer

The money deposited in a cheque account represents a store of value as it can be withdrawn at any time or used to make purchases. While money can be used as a medium of exchange and a unit of account, these functions are not specific to the money being held in a cheque account. Coincident exchange and treasure are not relevant to the concept of money being held in a cheque account.

One Hundred Dollars on Deposit in a Cheque Account Represents