MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Advantages of India's Location in the World

Standard mone...

Question

Standard money consisting of paper currency notes and coins is called

A

Bank money

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Deposited money

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

Fiat money

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

D

Credit money

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
Fiat money

Standard money consisting of paper currency notes and coins is called fiat money. No one can refuse to accept this money.

Suggest Corrections

thumbs-up

0

Similar questions

The total amount of currency notes and coins in circulation is called .

Q. The study or collection of currency, including coins, tokens, paper money, etc. is known as ___.

Q. In terms of money supply,

Currency note and coins in circulation + Net demand deposits held in commercial banks = _____

Q. Consider the following statement:
1. According to the provisions of FEMA,

1999

, cash in the form of coins and bank notes are included in 'Currency Notes'
2. According to the FEMA's provisions, ATM cards are not included in currency.
3. All 'money orders' can be treated as 'currency'.
Which of the above statement/s is/ are not true?

Q. Consider the following statements:

Which of the statements given above is/are incorrect?

1 and 3 only
1, 2 and 3
2 and 3 only
1 only

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Advantages of India's Location in The World

GEOGRAPHY

Watch in App

explore_more_icon

Explore more

Advantages of India's Location in the World

Standard X Geography

Join BYJU'S Learning Program

CrossIcon