If a person writes a check on a Tulsa bank to purchase a new Oldsmobile,he is employing money as:

Question

Quizplus · Accepted Answer

By writing a check to purchase an Oldsmobile, the person is using money as a medium of exchange, which is one of the three basic functions of money. Money serves as a means of facilitating transactions, allowing people to trade goods and services without the need for barter. While money may also serve as a store of value and a measure of value, these functions are not directly demonstrated by this transaction, as the person is not necessarily holding onto the money for future use, and the price of the Oldsmobile is not being compared to any other goods or services.

If a Person Writes a Check on a Tulsa Bank