Money is defined as ________.

Question

Quizplus · Accepted Answer

Money is anything that is generally accepted in payment for goods and services or in the repayment of debt. This can include physical currency (such as bills and coins), digital payment methods (such as credit cards and online transfers), and other forms of exchange that are accepted by society as a valid medium of exchange. Bills of exchange (choice A) are a type of financial instrument used in international trade, but are not necessarily considered "money" in the broader sense. "A repository of spending power" (choice C) is a vague and imprecise definition that does not accurately capture the nature of money. Finally, governments may have liabilities related to their monetary policies, but "the unrecognized liability of governments" (choice D) is not an accurate or useful definition of money.

Money Is Defined as ________