If you use a check to pay your monthly rent,
A)the check is considered money because you received something in return.
B)the check is not money because it is just an instruction to your bank to make a payment.
C)you have used money because the landlord accepted it as a means of payment.
D)the check becomes money when it arrives at the landlord's bank.
E)the check is not money because it is not part of M1.

Question

Quizplus · Accepted Answer

A check is not money itself; it is an instruction to the bank to transfer money from your account to the payee's account.

If You Use a Check to Pay Your Monthly Rent