Question

A cheque like currency notes act as –
(a) cash
(b) a store of value
(c) a medium of exchange
(d) a demand deposit​

Answer 1

Answer:

it is the medium of exchange

Explanation:

Before in the olden times people used to borrow things like wise modern man had found Currency (cash) as the medium of exchange

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Answer 2

The correct answer is Option(c) a medium of exchange

• A cheque is a document that is given by a person, which contains how much the money should be deposited.

• Cash is a tangible currency, whereas a cheque is an intangible currency.

• A deposit that can be withdrawn without any notice is called a demand deposit, but this is not a feature of a cheque. A cheque cannot be withdrawn.