Question

Money is: Multiple Choice the sum of assets minus debts. any asset used to make purchases. the same as income. all financial assets.

Answer 1

any asset used to make purchases.

Step-by-step explanation:

Money is any asset used to make purchases. This ultimately implies that, in economics or financial accounting, money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.

Additionally, the rate at which an asset can be used to purchase any goods or services refers to its liquidity. Thus, liquidity is a quality or characteristics of money as a medium of exchange.

Hence, money is a generally accepted medium of exchange around the world.