A credit instrument which also serves as a legal tender is?

Assessment: JAMB UTME - Commerce - 2007 Subject: Commerce

Question 1 Report

A credit instrument which also serves as a legal tender is?
Answer Details
The credit instrument that also serves as legal tender is paper money. It is a physical currency that represents a certain value and can be exchanged for goods and services. It is issued by the government and accepted by the public for all transactions. Unlike other credit instruments, such as cheques or money orders, paper money is not just a promise to pay but is itself a means of payment.
Read lesson note on Money (JAMB)
View Answer

Related Questions

1

A new company requiring a large amount of equity finance may source funds from the?
2

The scope of economic activities can be enlarged by
3

The body regulating the sale and purchase of shares in Nigeria is the?
4

Which of the following best describes inputs for any production activity?
5

The business environment that takes into cognizance the age distribution ethnic mix and educational level of the consumer is
6

Determine the owner's equity.
7

What is the net working capital ?
8

The selling of new shares to exist shareholders is referred to as?

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning