A bank note is said to be a legal tender because it is

Economics

WAEC 2016

A. printed by government
B. a store of value
C. signed by the head of state
D. backed by law

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Correct Answer: Option D

Explanation

National banknotes are generally legal tender, meaning that medium of payment is allowed by law or recognized by a legal system to be valid for meeting a financial obligation.

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A bank note is said to be a legal tender because it is

Correct Answer: Option D

Explanation

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