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Money

Money (1-year)Wikipedia has already defined and explained money in its 3437 words long article . I have read it. It is written from economic point of view and most of books are defining what is defining by Wikipedia. It is true that money is medium of exchange, unit of account and store of value. Ok, but modern theory of money also includes other securities which can deal in money market. We can take example of bill of exchange, short term govt. securities and other short term loans.

From financial point of view, area of money is broader than Wikipedia’s definition of money. RBI also issues short term loan when any bank  needs of short term fund. So, money can not bind just in cash or bank money. Cash, cheques and currency notes are the major things of money. But in Finance, everything is money which is deal in money market. Financial Instruments or papers and commercial papers and Commercial bill are also the examples of money.

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Accounting Education: Money
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