Which function of money lets a firm compare the costs of labour, machines and raw materials and add them up?

Unit of accountCorrect answerYour answerMedium of exchangeCorrect answerYour answerStore of valueCorrect answerYour answerStandard of deferred paymentCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer A

Correct answer: A

Different things can be added only when each is valued in one common unit, rupees.

Concept: Unit of account
Typical timeTypical: 70 s
Your timeYours: —

The rule this testsFunctions of money

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Which function of money lets a firm compare the costs of labour, machines and raw materials and add them up?

Explanation