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JAMB Commerce 2013 Question 29

Question 29

Money

Money can simply be referred to as a

  1. A.measure of value.
  2. B.standard of value.
  3. C.means of settlement.
  4. D.durable asset for doing business.
Show the answer and explanation

Answer: C (means of settlement.)

Explanation

Money is simply anything that people generally accept in payment for goods and services and in settling debts. Measuring value is one of the things money does.