Question

Why is currency accepted as a medium of exchange?

1 point

Because the currency is authorised by the World Bank.

Because the use of currency has its origin in ancient times.

Because it is liked by the people who use it.

Because the currency is authorised by the government of the country.

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Answer 1

Answer:

Currency is accepted as a medium of exchange because:

1) Modern currency is authorized by the government of a country.

2) In India, the Reserve Bank of India issues all currency notes on behalf of central Government.

3) No other individual or organization is allowed to issue currency.

4) The law legalises the use of rupee as a medium of payment that cannot be refused in settling transactions in India.

5) No individual in India can legally refuse a payment made in Rupees.

Answer 2

Answer:

because the currency is authorised by the world bank

Explanation:

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