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

Question

Quizplus · Accepted Answer

The unit of account refers to an agreed-upon measure for stating prices of goods and services. It allows for consistent pricing and comparison of different goods and services. It is different from medium of exchange, which refers to the actual instrument used to facilitate transactions, such as currency or credit cards.

The Unit of Account Is Defined as