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प्रश्न
Statement (1): In India, rupee is the unit of account.
Statement (2): Money works as a common parameter in which the value of every good or service is expressed in monetary term.
पर्याय
Both the statements are true.
Both the statements are false.
Statement 1 is true, Statement 2 is false.
Statement 2 is true, Statement 1 is false.
MCQ
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उत्तर
Both the statements are true.
Explanation:
- Statement (1): India’s national currency is the Indian rupee (INR). A unit of account is a standard monetary unit used to determine the worth of commodities, services, economic transactions, and financial balance sheets.
- Statement (2): Money’s principal function is to serve as a unit of account and a measure of value. Money acts as a universal, common parameter, allowing people to quantify, compare, and describe the economic value of very varied items and services in uniform monetary terms.
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