Single Answer MCQ
Q-00045428
What features do cheques and demand deposits share?
1
Both require cash for transactions
2
Both can facilitate transactions without cash
3
Both are forms of currency
4
Both are issued by private individuals
Answer and Solution
Answer
B. Both can facilitate transactions without cash
Solution:
Both cheques and demand deposits allow for transactions to be made without the physical exchange of cash, hence they share the essential features of money.
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