Cheques are not money because they
A)are not always accepted when trying to purchase goods or services.
B)are just instruments to transfer money between banks.
C)are not issued by the government.
D)are not guaranteed by banks.
E)can bounce when there are not enough funds to cash them.

Question

Quizplus · Accepted Answer

Cheques are simply instructions or orders to transfer money from one bank account to another, and they are not considered as money themselves. They function as a convenient way for individuals and businesses to make payments to their creditors, but they are not universally accepted as a form of payment like cash or electronic funds transfers. Additionally, cheques can be dishonored or bounced by banks if there are insufficient funds in the account, which further emphasizes that they are not a substitute for actual currency.

Cheques Are Not Money Because They