Cheques are not money because

Assessment: WAEC SSCE - Economics - 2002 (Objective) Subject: Economics

Question 1 Report

Cheques are not money because
Answer Details
Cheques are not money because they are not generally acceptable as a medium of exchange. While cheques can be used to transfer money from one account to another, they are not as widely accepted as physical currency. Not all businesses or individuals accept cheques, and they may be subject to verification and clearance procedures that can take several days. Money, on the other hand, is generally accepted as a medium of exchange and is widely recognized and valued within a given economy.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning