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Legal Tender Money is
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- accepted only by Government
- accepted by people and Government as per the law
- not accepted for business purposes by law
- not accepted by Government
- accepted only by Government
Correct Option: B
Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. So it is accepted by people and government on a legal basis. Paper currency and coins are common forms of legal tender in many countries.
