In Nigeria, cheques are not money because________

a

Most Nigerians cannot identity them

b

They are not legal tender

c

There are no banks in rural areas

d

They are not generally acceptable as a medium of exchange

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Correct Option
b

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SucceyAsher
3 years ago

YES B is the right answer.
You might confused cos D also looks correct. But No. It is B cos Cheque is not a legal tender. It cannot be used for the direct payment of a commodity it can only be used to facilitate the sale or purchase of a commodity.

Bank notes and coins only are legal tenders.
Cheque is a negotiable instrument.

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