If You Use a Check to Pay Your Monthly Rent

question 135

Multiple Choice

If you use a check to pay your monthly rent,

• A)the check is considered money because you received something in return.
• B)the check is not money because it is just an instruction to your bank to make a payment.
• C)you have used money because the landlord accepted it as a means of payment.
• D)the check becomes money when it arrives at the landlord's bank.
• E)the check is not money because it is not part of M1.

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Definitions:

Bonds Payable

Long-term liabilities representing money a company owes to bondholders.