Which among the following is a correct definition of Fiduciary Issue of notes?
[A] The issue of currency notes without metallic backing
[B] The issue of currency notes with metallic backing
[C] The issue of currency notes with partial metallic backing
[D] The issue of currency notes with proportional metallic backing
Show Answer
Correct Answer: A [The issue of currency notes without metallic backing]
Notes:
The fiduciary issue is the part of the issue of notes and coins that is not backed by gold. All notes are Fiduciary today.
