Which of the following is true of money?
A)it must only and always be issued by a central bank
B)it is something that is acceptable in payment
C)government must authorize its use
D)it must be a physical commodity

Question

Quizplus · Accepted Answer

Money is generally defined as something that is widely accepted in payment for goods and services, making choice B the correct answer. Money can be issued by a central bank or other authorities, but it is not a requirement for it to be considered money. Government authorization may be necessary for the establishment of a legal system for using money, but it is not a requirement for something to be considered money. Finally, money does not have to be a physical commodity, as electronic forms of money, such as credit cards or digital currencies, can be widely accepted as payment.

Which of the Following Is True of Money