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Finding LCM of Two Numbers

The face valu...

Question

The face value of notes and coins used in different countries is called:

A

Currency

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B

Denomination

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C

Numismatics

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D

Money

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Solution

The correct option is B Denomination

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

Standard money consisting of paper currency notes and coins is called

Why do people hold notes and coins when it is clear that the intrinsic value (commodity value) of notes and coins is almost negligible?

Q. The face value of a bank note or a coin is known as its ______ .

Q. Fill in the blanks with appropriate alternatives given in the brackets.
1) Medium of exchange is __________ function of money. (primary/secondary/contingent/ additional)
2) In the case of __________ coins, intrinsic value is less than their face value. (token/full bodied/representative/standard)
3) The most liquid asset is __________. (cheque/money/shares/debentures)
4) Introduction of __________ removed difficulties of barter. (metals/bank/money/shares)
5) In the initial stage of development, __________ was used. (credit money /paper notes/ metallic coins/commodity money)

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