Features, Forms and History of Funds
п»їFunctions, Forms and History of Cash.
The use of funds is as aged as a persons civilization. Money is basically a method of exchange, and coins and notes are simply items of exchange. But money had not been always similar form as the money today, and is continue to developing Money is something that is commonly accepted by a group of people for the exchange of products, services, or resources. Every country has its own system of coins and paper money. At first, people bartered. Barter may be the exchange of any good or service another good or service, a bag of rice for a bag of beans. Nevertheless , what if you couldn't agree what a thing was really worth in exchange or perhaps you didn't need what the different person had. To solve that problem human beings developed what is called product money. As primitive communities develop into more advanced societies people realize they require some item that does not corrosion & remains valuable, a lot of commodity by using which people can gauge the value of just one thing resistant to the value of another thing. Such commodity can be money. It will not depreciate, persons accept profit exchange to get anything, that they measure almost all goods in terms of money. Therefore money can be described as necessary component to any civil society. This serves as: a medium of exchange, a shop of wealth, a measure of value. And now I will let you know a few terms about varieties of money. Money means money, banknotes & cash in the bank account. We use it to generate payments. Currently we know that the units pounds must have selected qualities to hit your objectives. They must end up being: 1 . Standard. They must all be of the same kind, look similar, weigh the same, all be of the same type, form, size & quality. installment payments on your Durable. They need to be strong & lasting, so that they really are a store valuable & tend not to wear out conveniently. 3. Satisfactory. They must become accepted being a medium of exchange in a society or perhaps country for purchasing & offering, that is they have to be legal tender. 4. Lightweight. They must be easy to carry.
5. Divisible. It should be...