An instrument used in lieu of legal tender is known as ____________
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
Correct Answer: Option D
Explanation:
Representative money is an instrument that represents a claim to a specified amount of a commodity or legal tender and can be used in exchange for goods and services. It therefore serves as a substitute for actual legal tender in transactions.
Representative money is an instrument that represents a claim to a specified amount of a commodity or legal tender and can be used in exchange for goods and services. It therefore serves as a substitute for actual legal tender in transactions.