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Topic Content:
- Types of Money
Below are the forms or types of money;
(i) Coins: These are metals in the form of silver and gold. It has a definite denomination issued and stamped by the central authority responsible for the issuance of money. For instance, the coins in use are kobo which are in different denominations.
(ii) Paper Note: It consists of banknotes with definite money value. This is in the form of paper notes originating from the receipts the goldsmiths
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