Description : For which function money is accepted as a unit of account? (a) Measure of value. (b) Store of value. © Medium of exchange. (d) Standard of deferred payment.
Last Answer : (a) Measure of value.
Description : Which of the following function does money serve when used to purchase or sell different goods and services? (a) Store of value ; (b) Medium of exchange ; (c) Standard of value ; (d) Display of power
Last Answer : (b) Medium of exchange ;
Description : Which of the following function does money serve when used to measure the prices of different goods and services? (a) Store of value ; (b) Medium of exchange ; (c) Standard of value ; (d) Display of power
Last Answer : (c) Standard of value ;
Description : Barter transactions means - (1) Goods are exchanged with gold. (2) Coins are exchanged for goods. (3) Money acts as a medium of exchange. (4) Goods are exchanged with goods.
Last Answer : (4) Goods are exchanged with goods. Explanation: Barter is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, ... crisis, such as when the currency may be either unstable or simply unavailable for conducting commerce,
Description : Barter transactions means (1) Goods are exchanged with gold. (2) Coins are exchanged for goods. (3) Money acts as a medium of exchange. (4) Goods are exchanged with goods.
Last Answer : Goods are exchanged with goods.
Description : Which of these is not a function of money? (a) Means of exchange ; (b) Store value ; (c) Power indicator ; (d) Measurement of value
Last Answer : (c) Power indicator ;
Description : Which one is not a function of money? (1) Transfer of value (2) Store of value (3) Price stabilization (4) Value measurement
Last Answer : (3) Price stabilization Explanation: Generally, economists have defined four types of functions of money which are as follows: (i) Medium of exchange (transfer of value) (ii) Measurement of value, ... deferred payments, and (iv) Store of value. Price stabilization is a function of monetary policy.
Description : Which one is not a function of money ? (1) Transfer of value (2) Store of value (3) Price stabilisation (4) Value measurement
Last Answer : Price stabilisation
Description : According to monetary approach of Balance of Payments, the demand for money is a stable function of (a) income, prices and rate of interest (b) income and prices (c) prices and rate of interest (d) income, prices and foreign exchange reserves
Last Answer : income, prices and rate of interest
Description : Which one of the following is not a function of the central bank in an economy? (1) Dealing with foreign exchange (2) Controlling monetary policy (3) Controlling government spending (4) Acting as a banker's bank
Last Answer : (3) Controlling government spending Explanation: A central bank, reserve bank, or monetary authority is a public institution that manages a state’s currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries.
Description : Which one of the following is not a function of the central bank in an economy ? (1) Dealing with foreign exchange (2) Controlling monetary policy (3) Controlling government spending (4) Acting as a banker’s bank
Last Answer : Controlling government spending
Description : How does money act as a medium of exchange ? -SST 10th
Last Answer : Money acts as a medium of exchange because any good can be bought or sold with the money as their value is already decided in the market in terms of money.
Description : How is money used as a medium of exchange ? Explain with examples. -SST 10th
Last Answer : Money is used as a medium of exchange by: 1. Goods and services can be bought and sold with the use of money. For example, someone who wants shoes can buy it with money and if someone wants ... it's the intermediary in the exchange process. Anything in the market can be bought and sold with it.
Description : What is money ? Why is modern money currency accepted as a medium of exchange ? -SST 10th
Last Answer : Money is the medium of exchange used for exchanging goods, commodities or properties. Before money, barter system was present in the society, Modern money currency is accepted as a medium of exchange ... No individual can legally refuse payment in rupees so it is used as a medium of exchange.
Description : What is money? Why is modern money currency accepted as a medium of exchange? -SST 10th
Last Answer : Money is something that can act as a medium of exchange in transactions. Everyone prefers to receive payments in money and then exchange the money for things they want. For example, take the case of ... a person holding money can easily exchange it for any commodity or service that he or she wants.
Description : How does money act as medium of exchange ? -SST 10th
Last Answer : It acts as an intermediate in the exchange process and transactions. We can buy things if we have money in our pockets.
Description : How is money used as a medium of exchange ? -SST 10th
Last Answer : Money acts as a medium of exchange in the following ways: (i) Overcomes the problem of double co-incidence of wants. For example, if a person needs wheat in exchange of tea, then he/she must search ... such searches redundant. (ii) Acts as a medium of deferred payment. (iii) Has a store value.
Description : The security furnished by an official will be liable to forfeiture when a) An employee quitting the service without properly accounting for all money, b) store and valuables in his custody c) An employee quitting the ... least three month's notice e) All the above Ans:d(258) 10. When the whole or th
Last Answer : d) An employee quitting the service without giving at least three month’s notice
Description : Production refers to - (1) destruction of utility (2) creation of utilities (3) exchange value (4) use of a product
Last Answer : (2) creation of utilities Explanation: Production refers to "the creation of utility having value-in-exchange." The process of production may create six types of utilities: form utility, time utility, place utility, ownership utility, service utility and knowledge utility.
Description : Production refers to (1) destruction of utility (2) creation of utilities (3) exchange value (4) use of a product
Last Answer : creation of utilities
Description : "Legal Tender Money" refers to : (1) Cheques (2) Drafts (3) Bill of exchange (4) Currency notes
Last Answer : (4) Currency notes Explanation: Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Paper currency and coins are common ... tender in many countries. Legal tender money is a type of payment that is protected by law.
Description : In monetary terminology, what is called the 'monetary base' or 'high powered money'? a) the total assets of RBI b) the total liability of RBI c) the total debt of the government d) the total foreign exchange of RBI
Last Answer : b) the total liability of RBI This includes the currency (notes and coins in circulation and vault cash of commercial banks) along with the deposits held by the Government of India ad commercial banks with RBI.
Description : hat posses general acceptability? (a) Bill of exchange (b) Bond © Money (d) Bank draft
Last Answer : © Money
Description : “Legal Tender Money” refers to : (1) Cheques (2) Drafts (3) Bill of exchange (4) Currency notes
Last Answer : Currency notes
Description : Mark correct options a) A post office or Sorting office or section which exchanges mails with offices in foreign countries is known as Office of exchange . b) A Foreign post office is an office ... of customs examination, assessment and accounting of custom duty is carried out. d) All the above
Last Answer : d) All the above
Description : What kind of cloud accounting software is good for medium enterprise ?
Last Answer : FreshBooks. Accounting software for small businesses. ... 2 QuickBooks. Cloud-based accounting software for all small business needs. ... 3 Xero. Powerful small business accounting software. ... 4 Sage Business Cloud ... business accounting solution. ... 5 Kashoo. ... 6 Zoho Books. ... 7 KashFlow.
Description : National income accounting is the study of the income and expenditure of the entire - (1) family (2) state (3) economy (4) organisation
Last Answer : (3) economy Explanation: National Income Accounting is a set of principles and methods used to measure the income and production of a country. There are basically two ways of measuring ... the total of incomes derived from economic activity after allowance has been made for capital consumption.
Description : In accounting terms, what constitutes the 'closing stock'? (1) Net Investment (2) Gross Investment-Capital Losses (3) Opening Stock-Capital Losses (4) Opening Stock + Net Investment - Capital Losses
Last Answer : (4) Opening Stock + Net Investment - Capital Losses Explanation: Closing stock refers to the goods remaining un-sold during the year. It includes finished products, raw materials, or work in progress ... with the following calculation: Opening stock + Purchases - Closing stock = Cost of goods sold.
Description : Net National Product in National Income Accounting refers to - (1) Gross Domestic Product—Depreciation (2) Gross Domestic Product + Subsidies (3) Gross National Product—Depreciation (4) Gross National Product + Subsidies
Last Answer : (3) Gross National Product-Depreciation Explanation: Net national product at market price is the market value of the output of final goods and services produced at current price in one year of ... the depreciation charges from the gross national product, we get net national product at market price.
Description : Economic profit or normal profit is the same as - (1) optimum profit (2) accounting profile (3) maximum profit (4) net profit
Last Answer : (4) net profit Explanation: Normal profit or economic profit is an economic condition occurring when the difference between a firm's total revenue and total cost is equal to zero. Simply put, normal ... occurs when revenues are greater than costs, and not equal, as in the case of normal profit.
Description : 10. John lost his accounting job when Montgomery Wards closed its stores in San Diego. He looked for a similar job for ten months before finding an accounting job at Sears. ... , he was a. frictionally unemployed b. seasonally unemployed c. cyclically unemployed d. structurally unemployed
Last Answer : d. structurally unemployed
Description : Economic profit or normal profit is the same as : (1) optimum profit (2) accounting profile (3) maximum profit (4) net profit
Last Answer : net profit
Description : Net National Product in National Income Accounting refers to (1) Gross Domestic Product— Depreciation (2) Gross Domestic Product + Subsidies (3) Gross National Product— Depreciation (4) Gross National Product + Subsidies
Last Answer : Gross National Product— Depreciation
Description : National income accounting is the study of the income and expenditure of the entire (1) family (2) state (3) economy (4) organisation
Last Answer : economy
Description : In accounting terms, what constitutes the ‘closing stock’? (1) Net Investment (2) Gross Investment-Capital Losses (3) Opening Stock-Capital Losses (4) Opening Stock + Net Investment – Capital Losses
Last Answer : Opening Stock + Net Investment – Capital Losses
Description : Outline the process of accounting.
Last Answer : Process of accounting An accounting system tracks and controls the income and expenses of a business. Accounting systems can be as simple as a pen and notepad, and can be as complex ... find themselves required to create reports for external stakeholders, such as lenders and private investors.
Description : What will happen if world stops using dollar as exchange medium?
Last Answer : It would make international trade more difficult for US corporations, especially if our large trading partners said you must pay us in euros or we will only pay in euros . But really, it isn't ... would be, what occurred to have people getting out of dollars and into euros (or other currency)?
Description : Why is currency accepted as a medium of exchange? -SST 10th
Last Answer : . Modern forms of money include currency-paper notes and coins. . Modern currency is not made of precious metals such as gold, silver and copper. . The modern currency is without any use of its ... is allowed to issue currency. . No individual in India can legally refuse a payment made in rupees.
Description : Why is modern currency accepted as a medium of exchange without any use of its own ? Find out the reason. -SST 10th
Last Answer : Modern currency is accepted as a medium of exchange: 1. Modern currency is accepted as a medium of exchange because it is authorized by the central government of a country. 2. In India, RBI issues the ... to issue the currency. 3. The rupee cannot be refused legally as a medium of payment in India.
Description : Modem currency is without any use of its own'; then why is it accepted as a medium of exchange ? -SST 10th
Last Answer : Modern currency is accepted as a medium of exchange because it is authorised by the government of the country.
Description : What is it that can act as a medium of exchange in transactions? -SST 10th
Last Answer : It is money that can act as a medium of exchange in transactions.
Description : Why is the rupee widely accepted as a medium of exchange? -SST 10th
Last Answer : (i) In India, the Reserve Bank of India issues currency notes on behalf of the central government. (ii) As per Indian law, no other individual or organisation is allowed to issue currency. (iii ... legally refuse a payment made in rupees. Hence,the rupee is widely accepted as a medium of exchange.
Description : Why is modern currency accepted as a medium of exchange without any use of its own ? -SST 10th
Last Answer : Modern currency is accepted as a medium of exchange without any use of its own because: (i) Modern currency is authorized by the government of a country. (ii) In India, the Reserve Bank of ... settling transactions in India. (v) No individual in India can legally refuse a payment made in rupees.
Description : ‘‘The rupee is widely accepted as a medium of exchange.’’ Explain. -SST 10th
Last Answer : The rupee is widely accepted as a medium of exchange because: (i) The currency is authorised by the government of the country. (ii) In India, the Reserve Bank of India issues currency notes ... legally refuse a payment made in rupees. Hence, the rupee is widely accepted as a medium of exchange.
Description : why is water used as a medium in so many heat exchange processes?
Last Answer : it distributes heat energy uniformly
Description : Portal is a system of a) A gateway to information or news about a range of services b) Communication Medium c) Medium of exchange d) Online payment medium
Last Answer : a) A gateway to information or news about a range of services
Description : GDP is the money value of final goods and serviced produced in the………….of a country during an accounting year A. Domestic territory B. Political territory C. Specific area D. FTZ area
Last Answer : A. Domestic territory
Description : GPD is the money value of final goods and serviced produced in the…………. Of a country during an accounting year (a) Domestic territory ; (b) Political territory ; (c) Specific area ; (d) FTZ area
Last Answer : (a) Domestic territory ;
Description : 'Marginal efficiency of capital' is - (1) expected rate of return on new investment (2) expected rate of return of existing investment (3) difference between rate of profit and rate of interest (4) value of output per unit of capital invested
Last Answer : (1) expected rate of return on new investment Explanation: The volume of investment depend upon the following two factors: (1) rate of interest: and (2) marginal efficiency of capital. Before ... partly on expectations of future yields and partly on the actual price of the capital good concerned.
Description : ‘Marginal efficiency of capital’ is (1) expected rate of return on new investment (2) expected rate of return of existing investment (3) difference between rate of profit and rate of interest (4) value of output per unit of capital invested
Last Answer : expected rate of return on new investment