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Question
Which of the following are considered as money?
Which of the following are considered as money?
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Solution
The correct option is C Both a & b
Money refers to an asset in the economy that acts as a
common medium of exchange issued under the law and acts as a
legal tender for the whole country. Metallic money refers to the part of money which is made up of metals like one rupee coin in case of India whereas financial investment refers to the form of money which is converted into financial assets by purchasing them in the financial market. Therefore, both metallic money and financial statement is considered as money.
Money refers to an asset in the economy that acts as a common medium of exchange issued under the law and acts as a legal tender for the whole country. Metallic money refers to the part of money which is made up of metals like one rupee coin in case of India whereas financial investment refers to the form of money which is converted into financial assets by purchasing them in the financial market. Therefore, both metallic money and financial statement is considered as money.
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