Question

technology developments have enabled a variety of alternative currencies and payment options including cryptocurrencies, mobile wallets, brand, or regionally - based currencies. although the underlying technologies may differ, the common denominator is: a. they are backed by the faith and credit of the issuing government. b. they are legal tender for all debts public and private. c. they serve the three functions of money. d. they are not a viable replacement for money at this time.

Explanation:

Alternative currencies and payment options like cryptocurrencies, mobile wallets etc. aim to perform the three main functions of money - medium of exchange, unit of account, and store of value. Cryptocurrencies aren't backed by government faith and credit, nor are they legal tender in most places. And they are considered viable payment alternatives in many contexts.

Answer:

C. They serve the three functions of money.