What does it mean to be a unit of account?

A. Any item that can be traded for another item.
B. Any item that maintains its worth over time.
C. The item is divisible and each unit is worth the same.
D. It serves as a valid currency.

Question

13-08-2024
Business

Answered

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What does it mean to be a unit of account?

A. Any item that can be traded for another item.
B. Any item that maintains its worth over time.
C. The item is divisible and each unit is worth the same.
D. It serves as a valid currency.

Sagot :

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Final answer:

A unit of account serves as a standard numerical unit of measurement used to measure the value of goods and services.

Explanation:

Unit of Account is a standard numerical unit of measurement used to measure the value of goods, services, and transactions. It serves as a consistent means of keeping track of the worth of items and is a necessary component for commercial agreements involving debt. Money acts as a unit of account by providing a standard for measuring value and facilitating comparisons of different goods and services.

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