question_answer

Identify transactions involving money in our day-to-day life.

Answer:

There are several transactions involving money in any single day.

(i) In many of these transactions, goods are being bought and sold with the use of money.

(ii) In some of these transactions, services are being exchanged with money.

(iii) For some, there might not be any actual transfer of money taking place now but a promise to pay money later.