Money is anything that is generally accepted in payment for goods or services or in the repayment of debt. It can take the form of currency, coins, or digital forms of payment such as credit cards or digital currencies like Bitcoin. Money is a medium of exchange that facilitates transactions by eliminating the need for barter.

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Money Is Defined as

Question 51

Multiple Choice

Money is defined as

A) bills of exchange.
B) anything that is generally accepted in payment for goods or services or in the repayment of debt.
C) a risk-free repository of spending power.
D) the unrecognized liability of governments.

Correct Answer: