Question

how is money beneficial in transaction​

Answer 1

Answer:

minimum 5000

Explanation:

because there problem in transper in cash

Answer 2

In trade and commerce,money is universally considered as the main unit or medium of exchange during buying and selling of any product or service.It also functions as storage of market value.

Explanation:

Major benefits of money in transaction:-

• Money is an universally accepted medium of any commercially exchange or transaction.It is the parameter which determines the mathematical or numerical value of any product or service.Hence,in the absence of money it will be extremely difficult to accurately measure the mathematical market value of any commodity in the market,as evident during the prevalence of barter system.
• Money also acts as a store of value implying that it can be used or utilized anytime in the future and will not be invalidated.Therefore,money can be used for any transaction in the future at anytime.
• Monetary transaction has different payment modes such as debit card,credit card,electronic cash,bank cheques,electronic or online cheques,online payment options and so forth thereby providing various payment related conveniences pertaining to any purchase.
• Money also facilitates cheap transfer of funds,especially paper money or currency following any commercial transaction.In many post payment situations,paper money can be safely remitted to the seller without much practical hassle.