Money is generally acceptable for transaction due to
COMMERCE
JAMB 2023
Money is generally acceptable for transaction due to
- A. the central bank's governor's signature
- B. the rule of the law
- C. its acceptability in the global market
- D. the legal backing
Correct Answer: D. the legal backing
Explanation
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country.Legal tender is any official medium of payment recognized by law that can be used to extinguish a public or private debt, or meet a financial obligation
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