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Question :

Which one of the following is an example of optional money?

Option 1:

Currency note

Option 2:

Coins

Option 3: Cheque

Option 4: Bond


Team Careers360 7th Jan, 2024
Answer (1)
Team Careers360 13th Jan, 2024

Correct Answer: Cheque


Solution : The correct answer is a Cheque.

A cheque is a type of optional money. Optional money is money that is not legally tender. This implies it does not have to be accepted as payment for goods and services. Optional money is generally employed in transactions involving firms and individuals that already have a relationship.

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