JAMB Commerce 2017 Objective — Question 33

Question 33 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2017 Objective paper, with the correct answer and a full explanation.

Money is generally acceptable for transactions due to

A. A. the legal backingCorrect
B. B. the rule of law
C. C. the Central Bank Governor's signature
D. D. its acceptability in the global market

Explanation

Money's general acceptability for transactions is rooted in its legal backing (legal tender status).

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