Question

Which statements are false? Money comes in different forms. Money is indivisible. M1 includes notes, coins, and funds in checkable deposits. Money is a unit of account. Credit cards are used primarily to withdraw money from a checking account. NextReset

Answer 1

Answer:

Wrong statements are:-

1. Money is indivisible.

2. credit cards are used primarily to withdraw money from a checking account.

Explanation:

Some characteristics of money are:-

Money is divisible and it can be present in the form of coins, notes funds, checks, government securities etc. Anything which have a store of value is a form of money. Money is measure of value(fiat) money. so the statement that money is indivisible is a false statement.

2. Credit cards are primarily used to withdraw the money from account. so given statement is also wrong.

Answer 2

Answer: Money is indivisible and Credit cards are used primarily to withdraw money from a checking account are two false statements.

Explanation:

Since we know the characteristics of money as follows:

1) Money is divisible.

2) Money has different forms - coins, notes, demand deposits, cheques, tokens, funds in checkable deposits etc.

3) Money is a unit of account.

4) Money is measure of value.

5) Money is store of value.

So, Money is indivisible is false.

And credit cards are used primarily to withdraw money from a checking account is false , as debit cards are used for withdrawing money.

Hence, Money is indivisible and Credit cards are used primarily to withdraw money from a checking account are two false statements.