Question

question 7 of 11
what is a banknote?
select an answer from the options below.
a a type of gold coin
b a promissory note and legal tender issued by a g
c a form of digital currency

Explanation:

A banknote is an official, government-issued financial instrument that acts as legal tender (accepted for all debts) and is a promissory note, meaning the issuing authority promises to honor its face value. Option A is incorrect because banknotes are not gold coins, and option C is incorrect as banknotes are physical, not digital, currency.

Answer:

B. A promissory note and legal tender issued by a government