n Professional Accountant - Background on banknotes - "money we can be proud of"

Volume 2011 Number 1
  • ISSN : 1680-7537


Extracted from text ... Background On Banknotes - "money we can be proud of" A banknote is a promissory note issued by a central bank and is a common and general method of transacting in various goods and services. The technical definition is a promissory note drawn on the bank of issue promising to pay its face value to bearer on demand. A more common definition would be paper money issued by the legal authority with the intent to be used as legal tender in a particular country or region. Cash, especially banknotes, have been and always will be in high demand as ..

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