ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Checks
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Cash
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Money Orders
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Bank Notes
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Detailed explanation-1: -Payment on the basis of trust but not on the basis of any order of the government is known as fiduciary money; examples are cheques.
Detailed explanation-2: -Fiduciary cash, currency or money, alludes to banknotes and coins available for use in the economy. This is the liquidity accessible to financial actors to do exchanges. It is a method for payment. Cash is a substantial or tangible property, not at all like scriptural cash which is insignificant.
Detailed explanation-3: -The 4 Types of Money are Commodity Money, Fiat Money, Fiduciary Money and Commercial Bank Money. Money is defined as a generally accepted medium of exchange for goods and services and is studied in the macroeconomics section of economics.
Detailed explanation-4: -Fiduciary money, or currency, refers to banknotes and coins in circulation in the economy. This is the liquidity available to economic actors to carry out transactions. It is a means of payment. Currency is tangible property, unlike scriptural money which is immaterial.