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Q.

Choose the given statement that is true/false.

Demand deposits are considered as money.

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a

True

b

False

answer is A.

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Detailed Solution

The above statement is true.
Demand deposits are generally viewed as money because they can be withdrawn when needed and are, as we all know, what is meant by the term "money." Furthermore, this money can be used to make payments. Demand deposits can be used interchangeably with one another if they are considered money, so there is no problem. Demand deposits are also regarded as money for the following reasons: These can always be taken out of the bank as needed. Along with money or a check in place of cash, they are widely accepted as forms of payment.

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