The term 'Near money' is best described as
...The term 'Near money' is best described as
A financial instrument that is readily convertible to cash
Government financial instrument that is convertible to cash
Time deposits with low interest rates
A financial asset that is convertible to cash
Correct answer is D
Near money refers to non-cash assets that are highly liquid and easily converted to cash. They are sometimes referred to as quasi-money or cash equivalents. Examples of near money are: Savings accounts held in commercial banks
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