Question

Comparing how many dollars it takes you to run your car each year to annual earnings on a job insteadof keeping track of costs in terms of gallons of gasoline and quarts of oil represents the use of money as:_______. a. means of payment.b. unit of account.c. store of purchasing power.d. form of plastic money.

Answer 1

b. Unit of account

Step-by-step explanation:

One of the most important characteristics of money is that it serves as a unit of account. Money as a unit of account is something that can be used to value goods and services, record debts, and make calculations that is it is a measurement for value. it has three important characteristics which are:

1) Divisibility: it can be divided so that its component part is equal to its original value.

2) Fungible: one of the unit is the same as any other part of the unit with no change in value.

3) Countable: it can be counted and subjected to mathematical operations.