____ are termed as Legal Tender Money
____ are termed as Legal Tender Money.
(a) Demand deposits
(b) Time deposits
(c) Inter-bank deposits
(d) Currency Notes
Anurag Pathak Changed status to publish December 15, 2023
Ans – (d)
Explanation:-
Currency notes are termed as Legal Tender Money.
In India, paper notes and coins such as notes of ₹ 10, 20, 50, 100, 500 and coins of ₹ 1, 2, 5, 10 are the legal Tender Money.
The money that can be legally used to make payment of debts or other obligations is termed as legal tender money.
A creditor is obliged by law to receive such money in payment of debt due to him.
Anurag Pathak Changed status to publish December 15, 2023
