Which one of the following statements is not true?

Question

money is a unit of account

money is a store of value

money is a medium of exchange

money is another term for income

Answer 1

The statement that is not true is:

"money is another term for income."

Money serves as a medium of exchange, a unit of account, and a store of value, but it is not the same as income. Income refers to the earnings received, typically on a regular basis, while money is a broader concept that can represent different forms of currency, assets, or means of transaction.