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Which of the following is a legal tender?

Commerce
JAMB 2016

Which of the following is a legal tender?

  • A. Cheque
  • B. Travellers cheque
  • C. Bank note
  • D. Goldsmith receipt
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Correct Answer: Option C
Explanation

bank note is a piece of paper money, constituting a central bank's promissory note to pay a stated sum to the bearer on demand.

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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts