Which of the following is not correct about the money kept in transactions accounts?

Name: Which of the following is not correct about the money kept in transactions accounts?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Money kept in transactions accounts is not backed by gold held by the government. This system of backing money with gold, called the gold standard, was abandoned in most countries during the 20th century. Instead, the money supply is now backed by the government's ability to control the economy and manage inflation.

Which of the Following Is Not Correct About the Money