Request a call back

Join NOW to get access to exclusive study material for best results

CBSE Class 12-commerce Answered

Differentiate between fiat money and fiduciary money.

Asked by Topperlearning User | 18 Apr, 2016, 10:57: AM
Expert Answer

Fiat money refers to money backed by order or authority of the government. Example: Notes and coins.

Fiduciary money refers to money backed up by trust between the payer and payee. Example: Cheques are fiduciary money as these are accepted as a means of payment on the basis of trust but not on the basis of any order of the government.

Answered by | 18 Apr, 2016, 12:57: PM
CBSE 12-commerce - Macroeconomics
Asked by Topperlearning User | 18 Apr, 2016, 10:57: AM
ANSWERED BY EXPERT
CBSE 12-commerce - Macroeconomics
Asked by Topperlearning User | 18 Apr, 2016, 10:57: AM
ANSWERED BY EXPERT
CBSE 12-commerce - Macroeconomics
Asked by Topperlearning User | 18 Apr, 2016, 10:57: AM
ANSWERED BY EXPERT
CBSE 12-commerce - Macroeconomics
Asked by Topperlearning User | 18 Apr, 2016, 10:57: AM
ANSWERED BY EXPERT
CBSE 12-commerce - Macroeconomics
Asked by Topperlearning User | 18 Apr, 2016, 10:57: AM
ANSWERED BY EXPERT
CBSE 12-commerce - Macroeconomics
Asked by Topperlearning User | 18 Apr, 2016, 10:57: AM
ANSWERED BY EXPERT
CBSE 12-commerce - Macroeconomics
Asked by Topperlearning User | 18 Apr, 2016, 10:57: AM
ANSWERED BY EXPERT
CBSE 12-commerce - Macroeconomics
Asked by Topperlearning User | 18 Apr, 2016, 10:57: AM
ANSWERED BY EXPERT
CBSE 12-commerce - Macroeconomics
Asked by Topperlearning User | 18 Apr, 2016, 12:16: PM
ANSWERED BY EXPERT
CBSE 12-commerce - Macroeconomics
Asked by Topperlearning User | 18 Apr, 2016, 12:21: PM
ANSWERED BY EXPERT

Start your hassle free Education Franchisee and grow your business!

Know more
×