On the basis of acceptability, money has been classified into legal tender and optional money. Legal tender money is enforced by law. Optional money is that money which may or may not be accepted as a means of payment; it has no legal sanction. Different credit instruments, like, cheques, bank drafts, etc., are the examples of optional money.

Correct Option: C

On the basis of acceptability, money has been classified into legal tender and optional money. Legal tender money is enforced by law. Optional money is that money which may or may not be accepted as a means of payment; it has no legal sanction. Different credit instruments, like, cheques, bank drafts, etc., are the examples of optional money.

Money is something which is widely accepted in payment for goods and services and in setting debts. Money is an example of Floating Capital.

Correct Option: B

Money is something which is widely accepted in payment for goods and services and in setting debts. Money is an example of Floating Capital.

The Panama Canal is a 48-mile ship canal in Panama that connects the Atlantic Ocean to the Pacific Ocean. The canal cuts across the Isthmus of Panama and is a key conduit for international maritime trade. The American Society of Civil Engineers has named the Panama Canal one of the seven wonders of the modern world.

Correct Option: A

The Panama Canal is a 48-mile ship canal in Panama that connects the Atlantic Ocean to the Pacific Ocean. The canal cuts across the Isthmus of Panama and is a key conduit for international maritime trade. The American Society of Civil Engineers has named the Panama Canal one of the seven wonders of the modern world.

The Strait of Gibraltar is a narrow strait that connects the Atlantic Ocean to the Mediterranean Sea and separates Gibraltar and Peninsular Spain in Europe from Morocco and Ceuta (Spain) in Africa. Europe and Africa are separated by 14.3 km of ocean at the strait’s narrowest point.

Correct Option: C

The Strait of Gibraltar is a narrow strait that connects the Atlantic Ocean to the Mediterranean Sea and separates Gibraltar and Peninsular Spain in Europe from Morocco and Ceuta (Spain) in Africa. Europe and Africa are separated by 14.3 km of ocean at the strait’s narrowest point.

Norway is called the Land of the Midnight Sun because the sun never dips entirely below the horizon between late May and late July. During the summer months, areas located north of the Arctic Circle experience nearly perpetual daylight; these areas may see up to 20 hours of sunlight during the time of the midnight sun, but experience long periods of darkness during the winter.

Correct Option: B

Norway is called the Land of the Midnight Sun because the sun never dips entirely below the horizon between late May and late July. During the summer months, areas located north of the Arctic Circle experience nearly perpetual daylight; these areas may see up to 20 hours of sunlight during the time of the midnight sun, but experience long periods of darkness during the winter.