10th Class Social Science Money and Credit Question Bank Short Answer Type - Money and Credit

  • question_answer Look at a ten rupee note. What is written on top? Can you explain this statement?

    Answer:

    On a ten rupee note, matter written on the top is 'Guarantee by the Central Government'. This note can be used as medium of exchange because it is authorized by the government of the country. It cannot be refused in payment for transactions. Everybody is bound to accept it in exchange for goods and services and in discharge of debts. None can refuse to accept it because its non-acceptance an offence.


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