Moneyis any item or verifiable record that is generally accepted as paymentfor goods and servicesand repayment of debtsin a particular countryor socio-economic context,or is easily converted to such a form. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, sometimes, a standard of deferred payment.Any item or verifiable record that fulfills these functions can be considered money.Money can be defined as any asset that is generally accepted in the payment of goods andservices and also in the settlement of debt. In essence it can be said that money is what we use asa medium of exchange for our goods and services and also for paying our debts. But for an itemto function as money it has to meet several features which we shall soon discuss. Characteristics of MoneyDurabilityMoney should not be perishable like tomatoes and other perishable items do. Money should beable to stand the test of time. It should be long-lasting. It should possess the quality of beingstored overtime without spoilage. This buttresses the reason why gold and silver were used in theancient periods as money or a medium of exchange. They were durable overtime.PortabilityAnything that functions as money should be able to be carried around easily. It should not beheavy to create inconvenience for conveyance. In this modern economy, a large amount ofmoney can easily be carried in wallets, pockets and bags. AcceptabilityThis is a very important feature of money. Money will be useless if it not accepted. By lawanything that functions as money has to be generally accepted as a medium of exchangeespecially within the confines of a country. Ghana Cedis should be accepted in every corner ofGhana because it is the legal tender for Ghana. Money is generally accepted.Definition of Money According to Classical Economists:According to classical economists money is just a medium of exchange and it can not influence the income and employment of a country. In other words, the money supply which is in circulation just performs the function of exchange of goods and services. People keep money with themselves so that they could transact goods and services. Thus, according to them money is just a token and it has nothing to do with economic activity of a country. They further say that money is like a veil which wraps the goods and servicesin itself. Money has been accorded as a veil because it has camouflaged the operation of real economic forces. Classical economists do not rule out the act of savings or borrowing. They think the savings, borrowings and lendings take place under the shield of a veil. Again classical economists: "Accord money like an agent which expedites the chemical action of any process, but it can not change the components of chemical action".