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Q.

Bank notes and Cheques are examples of which type of money?

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a

Commercial Bank Money

b

Commodity Money

c

Fiduciary Money

d

Flat Money

answer is C.

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Detailed Solution

Fiduciary money is generally paid in gold, silver, or paper money. There are cheques and banknotes, which are an example of fiduciary money because both are some kind of token that is used as money and carry the same value.

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Bank notes and Cheques are examples of which type of money?