THE CONCEPT AND DEVELOPMENT OF MONEY

Question 1

surname of Juno the Guardian of the Finances of the Roman Empire.

Answer 1

Moneta

Question 2

derived from the word “Moneta”

Answer 2

MONEY

Question 3

Means advise/warn

Answer 3

monere

Question 4

means change

Answer 4

monnaie

Question 5

Another term for money, which came from the word “buckins”, meaning deer hides or the medium of exchange used in early times.

Answer 5

Bucks

Question 6

is generally accepted as the medium of exchange, a measure of value or means of payments.

Answer 6

Money

Question 7

is commonly defned as anything authorized by law to be generally accepted as legal tender, as a medium of exchange , and a standard value in payment of goods and services without reference to the general standing of the person who ofers it.

Answer 7

Money

Question 8

consist of denomination of a country’s currency that, by law, must be accepted as a medium for commercial exchange and payment for money debt.

Answer 8

LEGAL TENDERS

Question 9

where metals are made into coins.

Answer 9

MINT

Question 10

not legal tenders and are accepted only at the option of the creditor, lender, or seller, also called lawful money.

Answer 10

CHECKS AND POSTAL ORDERS

Question 11

The hard plastic cards used in everyday exchange transactions in place of actual bank notes are called plastic money.

Answer 11

PLASTIC MONEY

Question 12

is actual cash made of super resistant polymer flm (instead of paper)

Answer 12

PLASTIC (POLYMER) MONEY

Question 13

Lighter than coins making it portable.

Answer 13

PAPER MONEY

Question 14

TYPES OF PLASTIC MONEY:

Answer 14

CREDIT CARD
DEBIT CARD
CASH CARD
PREPAID CASH CARD

Question 15

paid by the buyers upon purchase.

Answer 15

PREPAID CASH CARD

Question 16

only allows withdrawal of money through an Authorized Teller Machine (ATM).

Answer 16

CASH CARD

Question 17

immediately charged to the cardholder’s bank account.

Answer 17

DEBIT CARD

Question 18

allows owners to buy products on credit, it has a credit limit.

Answer 18

CREDIT CARD

Question 19

TYPES OF PREPAID CASH CARD:

Answer 19

HIFT CARD
STORE CARD
MULTI-CURRENCY PREPAID CARD

Question 20

generally issued by a particular store.

Answer 20

STORE CARD

Question 21

can load up to six diferent currencies.

Answer 21

MULTI-CURRENCY PREPAID CARD

Question 22

can be given as gifts so that the recipients can choose what they want as a gift.

Answer 22

GIFT CARD

Question 23

FORMS OF MONEY:

Answer 23

COMMODITY MONEY
CURRENCY (BILLS AND COINS)
CHECK
BANK DRAFT
MONEY ORDER
WAREHOUSE RECEIPTS (WR)

Question 24

government of any country issues currency that is legal tender in the country.

Answer 24

CURRENCY

Question 25

used to get what we want, the things we used to pay for such maybe term commodity money.

Answer 25

COMMODITY MONEY

Question 26

generally used by business and person in conducting businesses, and personal transactions. It is a written order to a bank.

Answer 26

CHECK/CHEQUE

Question 27

person who issues the check

Answer 27

MAKER OR DRAWER

Question 28

name written on the face of the check

Answer 28

PAYEE

Question 29

the bank

Answer 29

DRAWEE

Question 30

DIFFERENT TYPES OF CHECKS:

Answer 30

CERTIFICATE CHECK
CASHIER’S CHECK
PERSONAL CHECK
TRAVELER’S CHECK

Question 31

people who travel and who do not want to go into the hassle of exchanging their currency with the currency of the country they are visiting bring them what is known as traveler’s check.

Answer 31

TRAVELER’S CHECK

Question 32

like a cashier’s check issued by the bank certifying that the account of a person issuing that it has available funds (just like any ordinary personal check).

Answer 32

CERTIFICATE CHECK

Question 33

treated as a bank draft, is issued by the bank against its own account, ensuring availability of funds to be purchased with a free from a bank that issues the check.

Answer 33

CASHIER’S CHECK

Question 34

a check issued by companies/business used for business transactions.

Answer 34

BUSINESS CHECK

Question 35

issued by a person to be drawn against their own current/ checking account in a bank.

Answer 35

PERSONAL CHECK

Question 36

TYPES OF BANK DRAFT:

Answer 36

● Demand Draft
● Time Draft
● Local Draft
● International Draft
● Automatic Bank Draft (ABD)

Question 37

document of title to goods used as proof of profession or control of the goods covered by the receipt.

Answer 37

WAREHOUSE RECEIPTS (WR)

Question 38

issued by banks against their own account.

Answer 38

BANK DRAFT

Question 39

refers to the instrument issued generally by the post office of a country ordering a sum of money to be paid to the payee indicated on the instrument itself.

Answer 39

MONEY ORDER