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प्रश्न
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.
पर्याय
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true but Reason (R) is false.
Assertion (A) is false but Reason (R) is true.
उत्तर
Assertion (A) is false but Reason (R) is true.
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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 institutions is authorised to issue currency in India?
Indian rupee is legal tender.
______ are termed as Legal Tender Money.
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.
Match the following:
| Column I | Column II | ||
| A. | Currency | (i) | Something which is commonly used as medium of exchange |
| B. | Bank money | (ii) | Currency and demand deposits |
| C. | Money | (iii) | Bank demand deposits |
| D. | Modern form of money | (iv) | Paper notes + coins |
Why is money referred to as legal tender?
Distinguish between fiat money and bank money.
What is fiat money?
