Single Answer MCQ
Q-00045388
What is the significance of a legal tender like the Indian rupee?
1
It has value only in rural areas
2
It can be refused by any seller
3
It is mandatory to accept it for transactions
4
It cannot be exchanged
Answer and Solution
Answer
C. It is mandatory to accept it for transactions
Solution:
A legal tender, like the Indian rupee, is mandatory to be accepted for financial transactions, meaning no seller can legally refuse to accept it as payment.
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