Asked by
Esther Gomez
on Nov 30, 2024Verified
Which one of the following is NOT money?
A) A NOW account
B) A debit account
C) A two-dollar bill
D) Traveler's checks
NOW Account
A checking account that earns interest on balances, where NOW stands for "Negotiable Order of Withdrawal."
Debit Account
An account that records expenses or assets, increasing with a debit entry and decreasing with a credit entry.
Traveler's Checks
Preprinted, fixed-amount checks designed to allow the person signing them to pay for goods or services in a foreign currency securely.
- Differentiate various types of currency from non-currency financial instruments.
Verified Answer
GS
Learning Objectives
- Differentiate various types of currency from non-currency financial instruments.