Identify the incorrect statement.
    (A) Money is what money does
    (B) There are many assets which carry functions of money
    (C) In modem sense, money creates instability
    (D) The first and foremost role of money is that it acts as medium of exchange
    (E) Money acts only as convenient unit of account

Choose the correct answer from the options given below:

(C) and (E) only   

The first and foremost role of money is that it acts as a medium of exchange. Barter exchanges become extremely difficult in a large economy because of the high costs people would have to incur looking for suitable persons to exchange their surpluses. Money also acts as a convenient unit of account. The value of all goods and services can be expressed in monetary units. When we say that the value of a certain wristwatch is Rs 500 we mean that the wristwatch can be exchanged for 500 units of money, where a unit of money is the rupee in this case. Money is what money does is said by "Walker"