Which of the following statement is not true?
2021
Which of the following statement is not true?
- A.
Paper currency is the main currency of the country
- B.
Paper currency has an unlimited legal tender
- C.
Paper currency can be used to settle debts and make payments to an unlimited amount
- D.
None of the above
Attempted by 3 students.
Show answer & explanation
Correct answer: B
Option 1 states paper currency has unlimited legal tender status, which is incorrect. Most jurisdictions limit the amount of cash that can be used for a single transaction.