In order to be considered "money", paper currency must be

Question

Quizplus · Accepted Answer

Money is a medium of exchange that is generally accepted by people in transactions. Therefore, for paper currency to be considered as money, it must be generally acceptable as a medium of exchange. Counterfeiting prevention, convertibility, and issuance by a government agency or a chartered bank may be important features of paper currency, but they are not necessary conditions for it to be considered money.

In Order to Be Considered "Money", Paper Currency Must Be