Question

2) Assertion : The modern
currency is used as a medium
of exchange; however, it does
not have a use of its
own.Reason: Modem currency
is easy to carry
*​

Answer 1

Answer

it is accepted as a medium of exchange

Explanation:

Modern currency is accepted as a medium of exchange:

1. Modern currency is accepted as a medium of exchange because it is authorized by the central government of a country.

2. In India, RBI issues the currency notes and it is illegal for any other organization or individual to issue the currency.

3. The rupee cannot be refused legally as a medium of payment in India.