Question

difference between fiat money fiduciary money​

Answer 1

Answer:

Fiat money refers to money backed by order or authority of the government. ... Fiduciary money refers to money backed up by trust between the payer and payee. Example: Cheques are fiduciary money as these are accepted as a means of payment on the basis of trust but not on the basis of any order of the government.

Answer 2

Answer:

,

Explanation:

Fiat money refers to money backed by order or authority of the government. ... Fiduciary money refers to money backed up by trust between the payer and payee. JAAN EK PROMISE KARO Example: Cheques are fiduciary money as these are accepted as a means of payment on the basis of trust but not on the basis of any order of the government