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Functions of fs - money has two important functions
Medium of exchange and a unit of account.
Money acts as a store of value- to be acceptable as a medium of exchange it must have certain properties
Sufficient in quantity
Acceptable to all parties in all transactions
Divisible into small units
Portablr
The financial service exist largely...
To carry out functions these main functions..
-it oils the wheel of commerceand government by channellibg mobey from those who have a surplus and wish to lend it at a profit
Financial organisations want to make a profit by providing this service. By doing so they provide the public with produ ts and services tgat offer convenience(current accounts) , achieving diffi ult objectives(mortgages) and protection (insurance)
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