Advertisements
Advertisements
प्रश्न
______ are termed as Legal Tender Money.
पर्याय
Demand deposits
Time Deposits
Inter-bank deposits
Currency Notes
Advertisements
उत्तर
Currency Notes are termed as Legal Tender Money.
Explanation:
Currency notes are referred to as Legal Tender Money. This means they are legally recognized as a honest payment method for debt settlement and must be accepted in transactions. Paper currency and coins are both considered legal tender.
APPEARS IN
संबंधित प्रश्न
Currency and ______ are two modern forms of money.
Money whose value as a commodity is equal to its face value is called:
Which of the following agency is responsible for issuing ₹ 1 currency note in India?
Which of the following institutions is authorised to issue currency in India?
Indian rupee is legal tender.
Read the following statements - Assertion (A) and Reason (R). Choose one of the correct alternatives given below:
Assertion (A): Bank money is legal tender money.
Reason (R): Cheques drawn on demand deposits can be refused by anyone as a mode of payment. Hence, demand deposits (i.e. bank money) are not legal tenders they are optional.
Read the-following statements - Assertion (A) and Reason (R). Choose one of the correct alternatives given below:
Assertion (A): Currency and bank money are the two modern forms of money.
Reason (R): Currency is high powered money.
Why is money referred to as legal tender?
Distinguish between fiat money and bank money.
What is fiat money?
