According to the text, several different financial assets and instruments have served as a medium of exchange or means of making payments in recent years. Which instrument listed below is not considered a means of making payments or a medium of exchange?
A) Checking accounts
B) NOW accounts
C) Negotiable certificates of deposit
D) Debit cards
E) Credit cards

Question

Quizplus · Accepted Answer

Negotiable certificates of deposit are time deposits at a bank or financial institution that cannot be withdrawn for a certain term unless a penalty is paid. They are primarily used as a savings or investment tool rather than a means of making payments or a medium of exchange.

According to the Text, Several Different Financial Assets and Instruments