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WAEC Commerce 1993 Question 44

Question 44

Money

Cash is said to be legal tender because it

  1. A.can be converted into money order
  2. B.can be offered and accepted for payment
  3. C.is negotiable
  4. D.also takes the form of bank draft
  5. E.is portable
Show the answer and explanation

Answer: B (can be offered and accepted for payment)

Explanation

Legal tender is money that the law says must be accepted in payment of debts.