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State with the reasons whether you agree or disagree with the following statements:

Credit Money can be refused.

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Yes, I agree with the statement. 

Credit money can be refused because 

  • Credit money refers to Bank money. 
  • Bank money is not legal tender money. 
  • No one can force to accept this money. 
  • It is not punishable if it is not accepted. 
  • Hence, Credit Money can be refused.

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