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Why are demand deposit consider as …

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Why are demand deposit consider as money

    • Posted by Anju Jain 4 years, 8 months ago

    CBSE > Class 10 > Social Science
    • 1 answers

    Sia ? 4 years, 8 months ago

    The demand deposits are considered as money due to the following reasons:

    1. Demand deposits can be withdrawn from the bank whenever it is required.
    2. Along with the currency, demand deposits are widely accepted as a means of payment. Thus, they are considered as money.
    3. Demand deposits are accepted widely as means of payment by way of a cheque instead of cash.

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