BANKING AFFAIRS

Detailed explanation-1: -Money is anything which is used as an exchange for goods and services in the daily life. For example, Currency is the most common form of currency such as coins, notes etc.

Detailed explanation-2: -Bartering is the exchange of goods or services.

Detailed explanation-3: -Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment.

Detailed explanation-4: -Currency is a medium of exchange for goods and services. In short, it’s money, in the form of paper and coins, usually issued by a government and generally accepted at its face value as a method of payment.

Detailed explanation-5: -Barter is an alternative method of trading where goods and services are exchanged directly for one another without using money as an intermediary. For instance, a farmer may exchange a bushel of wheat for a pair of shoes from a shoemaker.