Choose the given statement that is true/false.

Anyone can refuse a payment made in rupees in India.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

True

False

answer is B.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The above statement is false.
No one can refuse a payment made in rupees in India because it is legal, official, and authorized money. It is widely accepted in all parts of the country and can be used to settle all transactions and make payments. It can be used to buy all kinds of goods, services, and commodities and will be accepted. Money is the medium of exchange legally authorized by the Government of India. Money is essential to a country’s economy; hence, everyone can use it without fear. For example- the dollar is the official currency of the United States Of America, and pounds are used as a medium of exchange in The United Kingdom. Similarly, the rupee is the official medium of business in India.
The correct statement is no one can refuse a payment made in rupees in India.

Watch 3-min video & get full concept clarity