Question

What is money and banking in commerce??

Answer 1

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• Banks are organised institutions that accept deposits from depositors and advance loans to borrowers. On the other hand, money is the medium of exchange that allows the transfer of ownership of commodities from one person to the other.

Answer 2

Answer:

Banks are organised institutions that accept deposits from depositors and advance loans to borrowers. On the other hand, money is the medium of exchange that allows the transfer of ownership of commodities from one person to the other