Multiple Choice QuestionWhich of the following is NOT considered to be a form of money?Multiple choice question.Chequebook moneyAir Canada stockCoinsPaper money
Question
Multiple Choice QuestionWhich of the following is NOT considered to be a form of money?Multiple choice question.Chequebook moneyAir Canada stockCoinsPaper money
Solution
The correct answer is "Air Canada stock".
Here's why:
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Chequebook money: This is considered a form of money because it represents a promise to pay a certain amount of money to the person or entity named on the cheque. It's a form of money substitute, not physical money, but still considered as money.
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Air Canada stock: This is not considered a form of money. Stocks represent ownership in a company and can be bought or sold for money, but they are not money themselves. They are financial assets, not money.
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Coins: These are considered a form of money because they are a medium of exchange, a unit of account, and a store of value. They are physical money.
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Paper money: This is considered a form of money because, like coins, it is a medium of exchange, a unit of account, and a store of value. It is also physical money.
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