Question

Distinguish between paper money and bank money

Answer 1

Answer:

Currency takes the form of hard plastic or coins or says the currency notes. Money is backed by many different things for example if one possesses money in a bank account then check (kind of money) would be backed by same. Whereas Fiat money which is currency will be backed by the government of that country.

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Answer 2

Currency takes the form of hard plastic or coins or says the currency notes. Money is backed by many different things for example if one possesses money in a bank account then check (kind of money) would be backed by same. Whereas Fiat money which is currency will be backed by the government of that country.