Assertion (A): Bank Money is a Non-Legal Tender Money.
Assertion (A): Bank Money is a Non-Legal Tender Money.
Reason (R): Bank Money can be refused by any citizen of the country for settlement of a financial transactions.
Alternatives:
(a) Both Assertion (A) and Reason (R) are True and Reason (R) is the correct explanation of Assertion (A).
(b) Both Assertion (A) and Reason (R) are True and Reason (R) is not the correct explanation of Assertion (A)
(c) Assertion (A) is True but Reason (R) is False.
(d) Assertion (A) is False but Reason (R) is True.
Anurag Pathak Changed status to publish December 15, 2023
Ans – (a)
Explanation:-
Bank money is a non-legal tender money. As bank money such as cheques, demand drafts can be refused by any citizen of the country for settlement of a financial transaction.
Any citizen is not obliged to accept the bank money. He can refuse it.
Thus, Assertion (A) and Reason (R) is true and Reason (R) is the correct explanation of Assertion (A)
Anurag Pathak Changed status to publish December 15, 2023
