12. Consider the following statements,

1] Demonetization is the act of stripping a currency unit of its status as legal tender.

2] Monetization is the process of converting or establishing something into legal tender.

Which of the above statements is/are incorrect?

a) 1 Only

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b) 2 Only

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c) Both 1 and 2

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d) Neither 1 nor 2

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Solution

The correct option is D d) Neither 1 nor 2
Ans d)Both the statements are correct.

Explanation: Demonetization is the act of stripping a currency unit of its status as legal tender.Monetization is the process of converting or establishing something into legal tender.

Suggest Corrections

Similar questions

Which act of stripping or cancelling legal tender status of a currency unit in circulation?

Q. Consider the following statements:

Which of the statements given above is/are incorrect?

Q. Consider the following statements with reference to Legal Tender Money:

Which of the statements given above is/are correct?

Q. क़ानूनी निविदा मुद्रा (Legal Tender Money) के संदर्भ में निम्नलिखित कथनों पर विचार कीजिए:

कानूनी निविदा मुद्रा को मौद्रिक दायित्व व्यवस्था में अस्वीकार नहीं किया जा सकता है।
कानूनी निविदा प्रकृति में सीमित या असीमित हो सकती है।
भारत में, मुद्रा नोट एक सीमित कानूनी निविदा के रूप में कार्य करती है।

उपर्युक्त कथनों में से कौन/से सही हैं?

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