Textbook Notes (369,067)
Canada (162,366)
MGTA02H3 (363)
Chapter 8

Chapter 8 Notes

3 Pages
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Department
Management (MGT)
Course Code
MGTA02H3
Professor
Chris Bovaird

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Description
April 24, 2011 4:23 PM Ch8: What is Money? WhatisMoney? Money:Any object generally accepted by people as payment for goods and services, which is portable, divisible, durable and stable. Money serves three functions: 1. Medium of Exchange 2. Store of Value 3. Unit ofAccount Four LegalAreas of Financial Institutions: 1. Chartered Banks Chartered Banks:Aprivately owned, profit-seeking firm that serves individuals, non- business organizations, and businesses as a financial intermediary Services Offered by Banks Pension Services: Help customers e
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