Examlex
Which of the following statements is TRUE?
Cash Reserves
Funds that a person or entity keeps on hand to meet short-term and emergency funding needs.
Medium of Exchange
An instrument or system used to facilitate the sale, purchase, or trade of goods and services between parties.
Currency
A medium of exchange that facilitates trade and is usually issued by a government as legal tender.
Nonbanking Public
The segment of the economy that does not include banks or financial institutions, generally referring to average consumers and businesses.
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