Salesforce Certified Associate Practice Exam

What field type allows for storing monetary amounts?

1. Date

2. Currency

3. Text

4. Email

The correct answer is: Currency

The field type that allows for storing monetary amounts is currency. This type is specifically designed to handle financial data, ensuring that values are formatted correctly according to different currencies and that calculations involving these amounts are accurate. Using a dedicated currency field also enables additional functionalities, such as currency conversion for organizations that operate in multiple currencies, thus maintaining accuracy in transactions and reports. In contrast, date fields are intended for storing date and time information, while text fields are more generic and can store any string of characters, including letters and numbers, but they would not provide the specific formatting needed for financial data. Email fields are designed specifically for storing email addresses and would not be suitable for monetary values.