Which of the following describe the purpose of money?

select all that apply:

- store of value
- hard to transport
- not durable
- unit of account
- medium of exchange

The purpose of money is that it is a store of value, unit of account and a medium of exchange.

Money is a store of value because it holds a value to pay for something else. Money is used to purchase items you want and depending on how much money you have it creates a value that is enough to purchase something else. Money is also a unit of account because it holds a numeric value that is important to the holder and the organizations so that people can spend their items on things they want/need. Money is also a medium of exchange because it is used as an exchange for a good or service that the consumer wants.

answer; that person may have a larger tax bill to pay on income taxes;