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Question

Who defined 'Money is what it does'?
  1. Crowther
  2. Robertson
  3. Walker
  4. None of these

A
None of these
B
Walker
C
Robertson
D
Crowther
Solution
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‘Money is what it does’ is defined by Prof. Walker. This means that money is a term which is defined by its functions some of which are medium of exchange, measure of value, unit of account, etc. It includes notes, coins, bank drafts, cheques, bills of exchange, etc.

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