EXACT MONEY Meaning and
Definition
-
The term "exact money" refers to the specific amount of cash or currency that is necessary to meet a payment obligation precisely. It signifies the precise value required to settle a transaction without any change or deviation. When a payment is made using exact money, the cash given or received corresponds exactly to the agreed-upon amount, leaving no remaining balance or surplus.
The concept of exact money is often associated with situations where the exact payment is essential, such as in certain cash-only transactions, toll booths, or vending machines that accept only specific denominations of currency. In these cases, having the exact money ensures a smooth and efficient process without the need for additional actions like providing change or receiving additional funds to cover the difference.
Having exact money on hand can also be beneficial in situations where time is a constraint, as it simplifies the payment process and eliminates the need for calculations or additional steps. Additionally, using exact money can help individuals and businesses maintain accurate financial records by precisely recording the amount exchanged.
Overall, exact money refers to the specific amount of cash required to meet a payment obligation precisely, eliminating the need for change or further transactions. It facilitates efficient financial transactions and is particularly useful in cash-only scenarios where exact payment is essential.
Common Misspellings for EXACT MONEY
- wxact money
- sxact money
- dxact money
- rxact money
- 4xact money
- 3xact money
- ezact money
- ecact money
- edact money
- esact money
- exzct money
- exsct money
- exwct money
- exqct money
- exaxt money
- exavt money
- exaft money
- exadt money
- exacr money
- exacf money
Etymology of EXACT MONEY
The term "exact money" does not have a specific etymology because it is a combination of two common English words.
- "Exact" comes from the Latin word "exactus", which means "precise" or "accurate". It entered the English language in the late 16th century.
- "Money" has its origins in the Latin word "moneta" or "monetae", which referred to a mint or coin. It later evolved into the Old French word "moneye" and ultimately became "money" in English.
Together, "exact money" simply refers to the precise or accurate amount of currency.
Infographic
Add the infographic to your website:
