Any good that is widely accepted for purposes of exchange and in the repayment of debt
Coins and paper money
An interest-earning account, at a commercial bank or thrift institution, from which funds can be
withdrawn at anytime without a penalty payment
Which of the following statements about the history of banks are true? Check all that apply.
Goldsmiths held deposited gold and issued receipts to their customers.
The amount of gold represented by warehouse receipts was less than the actual amount of gold on deposit.
Warehouse receipts, issued by goldsmiths were often used instead of gold itself to make payments.
