Money Cash Information

Introduction

Think of any luxury that is breath taking, be it of cars, a good house or any other that matches the flow; you can’t have it without the presence of cash money. This so called cash money brings with itself fame and admiration. People have gone to the extent of classifying success with solid money. Some have replaced their entire living of comfort with search for money to gain recognition and power in the society. This has thus being a gear to many to add to their spirit of working.

History

Cash money or rather money is the medium of exchange that is legally accepted by an economic expanse or a state. It can also be referred to as the legal tender that operates within a region in form of coins or papers for exchange of goods, services or debts. Assets can likewise be valued with money in situations that demand for the same.

According to history, cash money originated as product money, but nowadays all current money is in form of fiat money. This is the use of value as commodity in physical form deriving its value from government’s pronunciation of it as legal tender. After its declaration as the legal tender in specific vicinity, users are left with no choice but to use it as the terms of payment of all purposes.

Barter trade is the ancient form of trade that involved the exchange of goods for goods. Unlike today where people use cash money, long ago they used commodity money which involved, ivory, shells, barley and hence weighed in small portions referred to as shekels thus creating the unit of measure. Many continents around the globe used shell money

History

In 300BC, Mesopotamia circa evolved the term money and its usage. This has therefore grown to evolving from commodity money to representative money in a short spun. It was facilitated by the issuing of receipts by banks or silver and gold merchants to their clients after deposits of the same. The issued receipts took a significant representation of the value of the deposited commodity. With time, the receipts were accepted as paper money which was first practiced in China. Nowadays all transactions are done through use of cash money. It is used as standard deferred payment, measure of value, unit of account and commonly medium of exchange. Countries use different currencies that exchange at different rates. In case of foreign transactions, the exchange rates are determined by the value of the particular currencies being used. Examples of most common currencies are the U.S dollar, Sterling pound, Euro and the Japanese Yen.

Under the new era, cash money is being replaced by plastic money well known as credit and debit cards. Other forms of money include shares, treasury bills, assets and debentures. These has really taken a drift and impacted many to follow their path from their high convenience and flexibility.

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