Checks are NOT money because they
A) are merely instructions to transfer money.
B) are not backed by either gold or silver.
C) have value in exchange but little intrinsic value.
D) are issued by banks, not by the government.

Question

Quizplus · Accepted Answer

Checks are not actual money but rather an instruction to transfer money from one account to another. The actual value lies in the account being transferred from, not in the check itself.

Checks Are NOT Money Because They