When Arnold uses dollars to record his income and expenses, how is he using money?
A) as a unit of account
B) as a means of payment
C) as a store of value
D) as a medium of exchange

Question

Quizplus · Accepted Answer

Arnold is using dollars as a unit of account by using it to record his income and expenses. This means that he is measuring the value of his transactions in a common unit (dollars) to keep track of his financial activities.

When Arnold Uses Dollars to Record His Income and Expenses