1. Write" True" if the statement is correct and write "False" if it is wrong on the
space provided.
1. Money is defined as precious metals like gold or silver only.
2. Perishability is one of the characteristics of money.
3. Lack of a common unit of value is the limitation of barter system.
4. Commodity money refers to Paper currency issued by government.
5. Fiat money is money backed by the value of another asset.