Assets accepted for repayment of debt to the government as well as private transactions are known as

Name: Assets accepted for repayment of debt to the government as well as private transactions are known as
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Legal tender refers to money that must be accepted if offered in payment of a debt. The term specifically relates to the acceptance of the currency by a legal jurisdiction, often issued by a country's central bank or government, for the repayment of debt, including taxes or private debts.

Assets Accepted for Repayment of Debt to the Government as Well