Question :
Which one of the following is an example of optional money?
Option 1:
Currency note
Option 2:
Coins
Option 3: Cheque
Option 4: Bond
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Correct Answer: Cheque
Solution : The correct answer is a Cheque .
A cheque is a type of optional money. Optional money is money that is not legally tender. This implies it does not have to be accepted as payment for goods and services. Optional money is generally employed in transactions involving firms and individuals that already have a relationship.
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