LeoGlossary: Cash

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Money in physical form. It is legal tender, in either paper or coin form, that can be exchanged for goods and services.

In accounting, it is an financial asset that is in the form of currency or currency equivalents. These typically include:

Cryptocurrency is viewed as an alternative to cash. It seeks to serve a similar purpose. The difference is, being a virtual currency, that it is operated on and according to the rules of blockchain as opposed to the monetary policy of the Central Bank.


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