 Money, money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or so, geoeconomic context. The main functions of money are distinguished as, a medium of exchange, the unit of account, the store of value and sometimes, the standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money, like any cheque or note of debt, is without use value as a physical commodity. It derives its value by being declared by a government to be legal tender, that is, it must be accepted as a form of payment within the boundaries of the country, for all debts, public and private. Counterfeit money can cause good money to lose its value. The money supply of a country consists of currency banknotes and coins and, depending on the particular definition used, one or more types of bank money the balance is held in checking accounts, savings accounts, and other types of bank accounts. Bank money, which consists only of records mostly computerized in modern banking forms by far the largest part of broad money in developed countries.