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Questions and Answers
Which of the following is considered a legal tender in a bank account?
Which of the following is considered a legal tender in a bank account?
- Credit card
- Bitcoin
- Cheque
- Deposited money (correct)
What are the tools or instruments used to utilize legal tender for making payments?
What are the tools or instruments used to utilize legal tender for making payments?
- Paper order (cheque), Electronic order (NEFT, RTGs, UPIs), Cards (correct)
- Cash only
- Stock certificates
- Gold bars
In how many ways can payments be made using the tools/instruments for legal tender?
In how many ways can payments be made using the tools/instruments for legal tender?
- 3 ways: Immediate, Deferred, and Future payment
- 1 way: Immediate payment
- 2 ways: Immediate/spot payment and Deferred (standing order) (correct)
- 4 ways: Immediate, Deferred, Future, and Recurring payment
Which of the following is an example of an electronic order for utilizing legal tender?
Which of the following is an example of an electronic order for utilizing legal tender?
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What is the term used for a payment made using legal tender that is deferred and scheduled?
What is the term used for a payment made using legal tender that is deferred and scheduled?
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Which tool/instrument is commonly used for immediate/spot payment using legal tender?
Which tool/instrument is commonly used for immediate/spot payment using legal tender?
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