What is an example of a unit of account?

Anything can be used as a unit of account if it is fungible, countable, and divisible. Money is a common example of a unit of account. Other units of account include gold and other precious metals, and cryptocurrency. What is a Unit of Account? A unit of account is a measurement for the value that is divisible, fungible, and countable.

What is a unit of account function of money?

C. The unit of account function of money allows for random measurement of values, leading to chaotic and unregulated transactions and economic activity. D. The unit of account function of money solely refers to the physical unit of a currency, for example, a coin or note, without serving any economic purpose.

Which currency is used as a unit of account?

Fiat currencies, such as the U.S. dollar or the Euro, are commonly used as units of account in modern economies. The unit of account function is distinct from the medium of exchange and store of value functions of money, though the three functions are often interrelated.