Money is a universally accepted medium of exchange for goods and services. It is an asset that people hold as a store of value and use as a means of payment or settlement. It is generally accepted by the public and trusted as a stable and reliable means of exchange.

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Money Is

Question 26

Multiple Choice

Money is

A) an asset that people are willing to accept in exchange for goods and services.
B) a liability that people are willing to accept in exchange for goods and services.
C) the income one earns over a period of time.
D) one's assets net of one's liabilities at any point in time.

Correct Answer: