Cash refers to money Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value, and occasionally, a standard of deferred payment in the physical form of currency In economics, the term currency can refer either to a particular currency, for example the US dollar, or to the coins and banknotes of a particular currency, which comprise the physical aspects of a nation's money supply. The other part of a nation's money supply consists of money deposited in banks , ownership of which can be transferred by means, such as banknotes A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. Along with coins, banknotes make up the cash or bearer forms of all modern money. With the exception of non-circulating high-value or precious metal commemorative issues, coins and coins Coins are usually metal or a metallic material and sometimes made of synthetic materials, usually in the shape of a disc, and most often issued by a government. Coins are used as a form of money in transactions of various kinds, from the everyday circulation coins to the storage of large numbers of bullion coins. In the present day, coins and. The word comes from the modern French word caisse, which means "money box," coming from Provençal word caissa, from the Italian cassa, from the Latin capsa which means "box". In the 18th century the word passed to refer to the money instead of the actual box containing it. Used as a verb it means "to convert to cash". For example in the expression "to cash a check".[1] In bookkeeping Bookkeeping is the recording of financial transactions. Transactions include sales, purchases, income, and payments by an individual or organization. Bookkeeping is usually performed by a bookkeeper. Bookkeeping should not be confused with accounting. The accounting process is usually performed by an accountant. The accountant creates reports from and finance Finance is the science of funds management. The general areas of finance are business finance, personal finance, and public finance. Finance includes saving money and often includes lending money. The field of finance deals with the concepts of time, money and risk and how they are interrelated. It also deals with how money is spent and budgeted, "cash" refers to current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market In finance, the money market is the global financial market for short-term borrowing and lending. It provides short-term liquidity funding for the global financial system. The money market is where short-term obligations such as Treasury bills, commercial paper and bankers' acceptances are bought and sold accounts). Cash is seen either as a reserve for payments, in case of a structural or incidental negative cash flow Cash flow refers to the movement of cash into or out of a business, a project, or a financial product. It is usually measured during a specified, finite period of time. Measurement of cash flow can be used or as a way to avoid a downturn on financial markets.
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History
In Western Europe, after the collapse of the Western Roman empire, coins, silver jewelry and hacksilver (silver objects hacked into pieces) were for centuries the only form of money, until Venetian merchants started using silver bars for large transactions in the early Middle Ages. In a separate development, Venetian merchants started using paper bills, instructing their banker A bank is a financial institution licensed by a government. Its primary activities include providing financial services to customers while enriching its investors. Many financial activities were allowed over time. For example banks are important players in financial markets and offer financial services such as investment funds. In some countries to make payments. Similar marked silver bars were in use in lands where the Venetian merchants had established representative offices. The Byzantine empire Byzantium was an ancient Greek city, which was founded by Greek colonists from Megara in 667 BC and named after their king Byzas or Byzantas (Βύζας or Βύζαντας in Greek). The name "Byzantium" is a Latinization of the original name Byzantion. The city is what later evolved to be the center of the Byzantine Empire (the Greek- and several states in the Balkan The Balkans is a geopolitical and cultural region of southeastern Europe. The region takes its name from the Balkan Mountains, which run through the centre of Bulgaria into eastern Serbia. The region has a combined area of 550,000 km2 (212,000 sq mi) and a population of about 55 million people area and Russia also used marked silver bars for large payments. As the world economy developed and silver supplies increased, in particular after the colonization of South America, coins became larger and a standard coin for international payment developed from the 15th century: the Spanish and Spanish colonial coin of 8 reales The word peso was the name of a coin that originated in Spain and became of immense importance internationally. Peso is now the name of the monetary unit of several former Spanish colonies. This article gives a brief summary of the origin and evolution of the peso coin, which was the basic silver coin of Spanish America from the 15th through the 19. Its counterpart in gold was the Venetian ducat The ducat is a gold coin that was used as a trade currency throughout Europe before World War I. Its weight is 3.4909 grams of .986 gold, which is 0.1107 troy ounce, AGW, actual gold weight.
Coin types would compete for markets. By conquering foreign markets, the issuing rulers would enjoy extra income from seigniorage Seigniorage , also spelled seignorage or seigneurage, is the net revenue derived from the issuing of currency (the difference between the value of the coin and the value of the metal the coin was made of). Successful coin types of high nobility would be copied by lower nobility for seigniorage. Imitations were usually of a lower weight, undermining the popularity of the original. As feudal states coalesced into kingdoms, imitation of silver types abated, but gold coins, in particular the gold ducat and the gold florin were still issued as trade coins: coins without a fixed value, going by weight. Colonial powers also sought to take away market share from Spain by issuing trade coin equivalents of silver Spanish coins, without much success.
Meanwhile, paper money had been developed. At first, it was thought of as emergency issues, so that they were most popular in the colonies of European powers. In the 18th century, important paper issues were made in colonies such as Ceylon Sri Lanka , officially the Democratic Socialist Republic of Sri Lanka (pronounced /ˌɕriːˈlaŋkaː/, Sinhala: ශ්රී ලංකා, Tamil: இலங்கை; known as Ceylon (/sɪˈlɒn/) before 1972 and as Taprobane (/təˈprɒbəniː/) in ancient times, is an island country in South Asia, located about 31 kilometres (19.3 mi) off the and the bordering colonies of Essequibo Essequibo is the name of a Dutch colony founded in 1616 and located in the region of the Essequibo River. There was a brief English occupation from 1665 to 1666. From 27 February 1781 to February 1782 there was a British occupation of Demerara, Essequibo, and Berbice, Demerara Demerara in South America was one of the original British colonies that were joined into the colony of British Guiana, now Guyana. It was located about the lower courses of the Demerara River, and its main town was Georgetown. Demerara is now one of three counties of Guyana. The other two counties are Berbice and Essequibo. Before the colony and Berbice Berbice is a region in Guyana, South America, sometimes known as the "ancient county" or "Mad House". The Berbice River runs through it. It is a former Dutch colony, as is evidenced by the existence of the nearly extinct Berbice Creole Dutch. John Law John Law (baptised 21 April 1671 – died 21 March 1729) was a Scottish economist who believed that money was only a means of exchange that did not constitute wealth in itself and that national wealth depended on trade. He was responsible for the Mississippi Bubble and a chaotic economic collapse in France did pioneering work on banknotes with the Banque Royale. However, the relation between money supply In economics, money supply or money stock, is the total amount of money available in an economy at a particular point in time. There are several ways to define "money", but standard measures usually include currency in circulation and demand deposits and inflation was still imperfectly understood and the bank went under, while its notes became worthless when they were over-issued. The lessons learned were applied to the Bank of England, which played a crucial role in financing Wellington Field Marshal Arthur Wellesley, 1st Duke of Wellington, KG, KP, GCB, GCH, PC, FRS , was an Anglo-Irish soldier and statesman, and one of the leading military and political figures of the nineteenth century's Peninsular war The Peninsular War was a contest between France and the allied powers of Spain, the United Kingdom, and Portugal for control of the Iberian Peninsula during the Napoleonic Wars. The war began when French armies invaded Portugal in 1807 and Spain in 1808 and lasted until the Sixth Coalition defeated Napoleon in 1814, against French troops, hamstrung by a metallic Franc de Germinal.
The ability to create paper money made nation-states responsible for the management of inflation In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. When the price level rises, each unit of currency buys fewer goods and services; consequently, inflation is also an erosion in the purchasing power of money – a loss of real value in the internal medium of exchange and unit, through control of the money supply. It also made a direct relation between the metal of the coin and its denomination superfluous. From 1816, coins generally became token money, though some large silver and gold coins remained standard coins until 1927. The first world war saw standard coins disappear to a very large extent. Afterwards, standard gold coins, mainly British sovereigns, would still be used in colonies and less developed economies and silver Maria Theresa thalers Since 1780, the coin has always been dated 1780. On September 19, 1857, Emperor Francis Joseph of Austria declared the Maria Theresa Taler to be an official trade coinage. A little over a year later, on October 31, 1858, the Maria Theresa Taler lost its status as currency in Austria dated 1780 would be struck as trade coins for countries in East Asia until 1946 and possibly later locally.
Cash has now become a very small part of the money supply. Its remaining role is to make small payments conveniently and promptly, a role which is constantly undermined by electronic forms of payment Electronic money refers to money or scrip which is exchanged only electronically. Typically, this involves use of computer networks, the internet and digital stored value systems. Electronic Funds Transfer (EFT) and direct deposit are examples of electronic money. Also, it is a collective term for financial cryptography and technologies enabling.
Further reading
- Clyn Davies - A History of Money From Ancient Times to the Present Day (University of Wales Press, 1994) ISBN 0-7083-1351-5
- Peter Spufford - How rarely did medieval merchants use coin? (Geldmuseum, Utrecht, 2008) ISBN 978-90-73882-21-8
See also
- Legal Tender Legal tender or forced tender is an offered payment that, by law, cannot be refused in settlement of a debt, and have the debt remain in force. Currency is the most common form of legal tender
- Cash (currency) The cash is a name for several historical currencies used in Asia. It is applied to units used in China, Vietnam, and Madras in British India. It is also occasionally used to refer to the Korean mun and the Japanese mon, several historical currencies used in Asia
- Cash seal (China) Cash seal , is a kind of special seal used particularly in cash authority, or just on paper money or banknotes. It was also one of first three means that China invented first to distinguish real and fake paper money
- Cash register A cash register or till (British English) is a mechanical or electronic device for calculating and recording sales transactions, and an attached cash drawer for storing cash. The cash register also usually prints a receipt for the customer. The cash register cost about $100 in 1879
- Cash and cash equivalents Cash and cash equivalents are the most liquid assets found within the asset portion of a company's balance sheet. Cash equivalents are assets that are readily convertible into cash, such as money market holdings, short-term government bonds or Treasury bills, marketable securities and commercial paper. Cash equivalents are distinguished from other
- Cash flow Cash flow refers to the movement of cash into or out of a business, a project, or a financial product. It is usually measured during a specified, finite period of time. Measurement of cash flow can be used
- Cash counter A banknote counter is a device designed primarily to accurately count a quantity of banknotes. Additionally, a banknote counter may sort banknotes into batches and check for damaged or counterfeit notes
- Cash management In United States banking, cash management, or treasury management, is a marketing term for certain services offered primarily to larger business customers. It may be used to describe all bank accounts provided to businesses of a certain size, but it is more often used to describe specific services such as cash concentration, zero balance
- Petty cash Petty cash is a small amount of discretionary funds in the form of cash used for expenditures where it is not sensible to make the disbursement by check, because of the inconvenience and costs of writing, signing and then cashing the check
References
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CASH Brandon Levi View Back of Tombstone son of Don Skiles and Deanna Tuttie Cash Ferrell View Obituary
Maggie Christensen
Sat, 16 Jan 2010 04:33:06 GM
Just what is the best credit card . cash. back rewards program and how can you choose it over the myriad of other choices that are available. The best credit cards.
Q. I spent many time and money on on line shopping. I heard that some websites can make cash back by using there link. I don't know how it work but I want to know how can I get some of my cash back. Please give me some tips to save on online shopping or tell the way to get cash back. Thanks and have a good day.
Asked by YY - Fri Feb 15 21:30:55 2008 - - 4 Answers - 3 Comments
A. I don't know if it will work. I just registered for a few days and haven't get any cash back. But you can try it by yourself. Good luck !
Answered by shuangshuang - Fri Feb 15 21:37:44 2008
