Question

Write the correct statement.

1. Money is recognized as a standard record for the payment of a thing or service.
   
2. Using this currency, people can purchase things, pay taxes and repay debts.

Options

• Both 1 and 2 are correct

• Both 1 and 2 are wrong

• 1 is correct; 2 is wrong

• 1 is wrong; 2 is correct

Answer 1

Both 1 and 2 are correct