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WAEC Commerce 1991 (August) Question 82

Question 82

Money

Which of the following is not a function of money?

  1. A.Unit of account
  2. B.Store of value
  3. C.Determinant of exchange rate
  4. D.Medium of exchange
  5. E.Standard for deferred payment
Show the answer and explanation

Answer: C (Determinant of exchange rate)

Explanation

The functions of money are medium of exchange, unit of account, store of value and standard of deferred payment.