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Questions and Answers
Which of the following best describes cash?
Which of the following best describes cash?
- A commercial instrument that is payable in money and acceptable by the bank for deposit and immediate credit
- The standard medium of exchange
- Currency and coins which are in circulation and legal tender (correct)
- A financial asset
What is the primary function of cash?
What is the primary function of cash?
- To provide credit for commercial instruments
- To act as a financial asset
- To facilitate electronic transactions
- To serve as a standard medium of exchange (correct)
Which characteristic makes cash unique as a form of payment?
Which characteristic makes cash unique as a form of payment?
- Its electronic transferability
- Its physical presence as currency and coins (correct)
- Its ability to earn interest in a bank account
- Its potential for appreciation in value over time
Cash is: A financial ______. Commercial instrument that is payable in money and acceptable by the bank for deposit and immediate credit.
Cash is: A financial ______. Commercial instrument that is payable in money and acceptable by the bank for deposit and immediate credit.
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Cash is: A financial asset. Commercial instrument that is payable in ______ and acceptable by the bank for deposit and immediate credit.
Cash is: A financial asset. Commercial instrument that is payable in ______ and acceptable by the bank for deposit and immediate credit.
Signup and view all the answers
Cash is: A financial asset. Commercial instrument that is payable in money and acceptable by the bank for ______ and immediate credit.
Cash is: A financial asset. Commercial instrument that is payable in money and acceptable by the bank for ______ and immediate credit.
Signup and view all the answers
