What single test decides whether an item counts as money?

1. Money is anything accepted as payment for goods and services. 2. Acceptance in payment is the whole test, so the material, the issuer and any backing sit outside the definition. 3. Gold backing and a set life span describe particular currencies, not money itself. 4. Issue by a mint is common but an item still fails as money if nobody will take it in payment. _Source: OpenStax Introduction to Business (CC BY 4.0), Ch 15 "Understanding Money and Financial Institutions", section 15.1 Show Me the Money_