Which of the following is legal tender

Assessment: WAEC SSCE - Commerce - 2007 (Objective) Subject: Commerce

Question 1 Report

Which of the following is legal tender
Answer Details
Legal tender refers to any form of payment that is recognized by law to settle a financial obligation. It is a means of payment that is acceptable by law in a particular country to pay off debts or other financial obligations. In this context, the only option that is legal tender is bank notes. Bank drafts, central bank cheques, and traveller's cheques may be used as forms of payment, but they are not considered legal tender in most countries.

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