To be effective, money must be readily received for the purchase of goods and services and for the settlement of debts. Which of the following characteristics of money does this statement reflect?Multiple Choicedivisibilitydurabilityacceptabilitystabilityportability
Question
To be effective, money must be readily received for the purchase of goods and services and for the settlement of debts. Which of the following characteristics of money does this statement reflect?Multiple Choicedivisibilitydurabilityacceptabilitystabilityportability
Solution
The statement reflects the "acceptability" characteristic of money. This is because for money to be effective, it must be readily accepted by everyone for the purchase of goods and services and for the settlement of debts.
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