Which function of money is described in the following statement? It serves as a medium through which business transactions are carried out.

A. Standard for deferred payments s
B. Medium of exchange
C. Store of value
D. Unit of account

Correct Answer: Option A

A. Standard for deferred payments s

Explanation

Since money can be stored, it can be accumulated to pay debts and can serve as a medium by which business transactions on credit can be settled.