Financial Word of the Month

Avatar Koindanomics Magazine | July 4, 2019 12 Views 0 Likes 5 On 1 Rating

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Definition Dede Says:

Cash – (Bank) Notes or Coins
A bank note is a piece of PAPER MONEY that represents a promissory note (by the central bank) that is payable to the bearer on demand.

A promissory note is a promise to pay a specific person a specific sum of money either at a specific date or ON DEMAND

That means:
Cash is a piece of PAPER MONEY that represents the central bank’s promise to pay a specific person a specific sum on demand.

Cash is different from:
• Checks
• Money Orders
• Credit


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