Advertisements
Advertisements
Question
Distinguish between Legal tender money and Non-legal tender money.
Solution
| Basis of Difference | Legal tender money | Non-legal tender money |
| Legal acceptance | Backed by law and can't be refused; compulsory to accept | No legal compulsion of acceptance |
| Classification | Limited and unlimited legal tender money | Actual money and money of account. |
APPEARS IN
RELATED QUESTIONS
Convertible paper money and Inconvertible paper money.
Cheque is an optional money.
Convertible paper money and Inconvertible paper money.
Distinguish between the following :
Paper money and Metallic coins.
Distinguish between the following.
Metallic Money Paper Money.
(b) current account
(c) recurring account
(d) fixed deposit account
Distinguish between :
Current deposits and Fixed deposits.
Distinguish between Any FOUR of the following :
Metallic money and Paper money.
Answer in brief.
Explain the definitions of Money.
Write Short Note.
Commodity money
Answer the following question
What are the different types of money?
Distinguish between -
Commodity money and metallic money
Distinguish between
Paper money and metallic coins
Give reason or explain.
Any commodity cannot act as money.
