Forms and qualities of money - Jamb Commerce Past Questions and Answers

Question 16:

• JAMB 2017

An instrument used in lieu of legal tender is known as ______?

A. Token money
B. Commodity money
C. Fiat money
D. Representative

Question 17:

• JAMB 2017

The quality of money that describe its uniformity is

A. Recognizability
B. Durability
C. Portability
D. Homogeneity

Question 18:

• JAMB 2019

The following development of money have therefore been the use of, except______

A. Coins
B. Inconvertible paper money
C. Commodities
D. Abacus

Question 19:

• JAMB 2019

Which function of money is described in the following statement?
It serves as a medium through which business transactions are carried out

A. Standard for deferred payments s
B. Medium of exchange
C. Store of value
D. Unit of account

Question 20:

• JAMB 2021

A form of money with a face value that is greater than the value of the metal contents is ____________

A. Bank notes
B. Legal tender
C. Commodity money
D. Token money