A debit card is
A)money because it is a means of payment.
B)not money but is used to transfer bank deposits which are money.
C)money because it is generally accepted as a means of payment.
D)not money because it is not officially issued by the government.
E)part of the M2 money supply but not part of the M1 money supply.

Question

Quizplus · Accepted Answer

A debit card is not considered money itself, but it is a convenient way to access and transfer bank deposits, which are considered money. Therefore, it is a means of transferring money rather than money itself.

A Debit Card Is