Cash serves what purpose when a cashier exchanges your $50 bill for a pair of jeans. When money is kept as an asset, it serves as a: wealth storage.
How does cash function as a store of value?
Money has a store of value because it is an asset that can be invested in, kept in a bank, or placed in a house safe before being utilized to make a future purchase. A store of value serves a crucial role in the function of money by facilitating future commerce.
What does money mean as an accounting unit?
A unit of account is anything that can be used to compute, record debts, and value commodities and services. Being divvyable, fungible, and countable, money is seen as a unit of account. Money can be used to account for gains, losses, income, expenses, debt, and wealth because it can be counted.
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