A well known speaker started off his seminar by holding up a $20 bill. In the room of 200, he asked "What is this piece of paper and is it worth anything?" "It is a $20 bill, which can be cashed in international & national markets for it's quoted value?" replied one of the many participants who raised their hands.
How can a bill be cashed since it is cash in itself?
As far as I know, only cheque, postal order can be cashed. Am I right?
That's right. We don't normally say that money can be cashed, since it is cash. But the context identifies it as a piece of paper, and asks what its value is. Its value is $20 because it can be exchanged for $20 worth of real goods.
Originally Posted by jasonlulu_2000
The speaker should probably have said "It can be exchanged ..."
Back when we all had real money, you could trade in the paper for silver or gold.
Search Engine Optimization by vBSEO