CA Foundation Question

Money that is issued by the authority of the government is called:
  • a)
    Full bodied money
  • b)
    Credit money
  • c)
    Fiat money
  • d)
    Fiduciary money
Correct answer is option 'C'. Can you explain this answer?

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Answers

Fiat money refers to money whose value has been decreed by the government. 

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