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WAEC Commerce 1998 Question 25

Question 25

Money

Which of the following shows the quality of money?

  1. A.Ability to represent both small and large values
  2. B.Use for deferred payments
  3. C.Used as a unit of account
  4. D.Facilitating exchange
  5. E.Serving as a store of wealth
Show the answer and explanation

Answer: A (Ability to represent both small and large values)

Explanation

Being divisible into small and large values is a quality (characteristic) of money; the others are its functions.