Business Essentials (11th Edition)
Business Essentials (11th Edition)
11th Edition
ISBN: 9780134129969
Author: Ronald J. Ebert, Ricky W. Griffin
Publisher: PEARSON
Question
Book Icon
Chapter 16, Problem 16.1QR
Summary Introduction

To determine: The characteristics of money.

Introduction:

Accounting is the process which would be done by the finance department of the firm. It helps the firm to keep the financial accounts. It would summarize the financial and business transaction of the firm and records it for the future use.

Expert Solution & Answer
Check Mark

Explanation of Solution

The following are the characteristics of money:

  • It is divisible. It refers that money can be divided into smaller parts
  • It is portable.
  • Money is light to carry, durable, and stable.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Discuss how the Invention of Money took placed.
Why is the value of the money in the market unreal compared to the real value?
What are the characteristics of money? Which do you think is most important? PermalinkReply
Knowledge Booster
Background pattern image
Recommended textbooks for you
Text book image
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Text book image
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning