A cheque like currency notes act as:
(A) cash
(B) a store of value
(C) a medium of exchange
(D) a demand deposit
Answer:
So the correct answer is (C) - a medium of exchange.
Explanation
A cheque is a paper instructing the bank to pay a specific amount from the person’s account to the person in whose name the cheque has been issued . So it acts as a medium of exchange.
