Money is legal tender if:
A)people willingly accept it in payment of debts.
B)it is backed by gold or silver.
C)it is commodity money.
D)the government says it is.
E)it is in a bank account.

Question

Quizplus · Accepted Answer

Legally, money is only considered legal tender if the government declares it as such. This means that it can be used to pay off debts and taxes, and must be accepted by merchants as a form of payment. The backing of gold or silver or being commodity money is not necessary for money to be legal tender. Money in a bank account may or may not be legal tender, depending on the specific circumstances.

Money Is Legal Tender If