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Question
Which of the following statements is false?
Options
Demand deposits are not legal tender
Currency notes issued are not legal tender
Term deposits are not legal tender
Wheat is not legal tender
MCQ
Solution
Currency notes issued are not legal tender
Explanation:
A legal tender is a form of money that a court of law must recognise as sufficient payment of any financial debt. Coins and notes are the Reserve Bank of India's official legal money in India.
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