Comparing how many dollars it takes to run your car each year to annual earnings on a job, instead of recording costs in terms of litres of petrol and oil represents the use of money as:
A) a means of payment.
B) a unit of account.
C) a store of purchasing power.
D) a form of plastic money.

Question

Quizplus · Accepted Answer

Recording costs in terms of dollars represents the use of money as a unit of account, as it allows for the comparison and calculation of different costs in a standardized way. Money as a means of payment refers to the exchange of money for goods or services, while money as a store of purchasing power refers to the ability of money to maintain its value over time. Money as a form of plastic money refers specifically to electronic and digital forms of payment, such as credit cards and online banking.

Comparing How Many Dollars It Takes to Run Your Car