A legal tender is any
ECONOMICS
WAEC 1994
A legal tender is any
- A. form of money
- B. means of exchange authorized by the state
- C. commodity generally acceptable as a meduim of exchange
- D. total productivity of labour
Correct Answer: B. means of exchange authorized by the state
Explanation
A legal tender is a form of money or means of exchange that is recognized by courts of law as satisfactory payment for any monetary debt.
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