Question
Consider the following statements regarding the history
of bullion: 1) The use of bullion dates back to ancient civilizations such as the Egyptians and the Greeks. 2) They used gold and silver bullion for trade and as a store of value. 3) The term "bullion" derives from the French word "bouillon," which originally meant boiling or melting. Which of the statements given above is/are correct?Solution
Statement 1 is correct as the use of bullion dates back to ancient civilizations such as the Egyptians and the Greeks, who used gold and silver bullion for trade and as a store of value. Statement 2 is also correct as the term "bullion" derives from the French word "bouillon," which originally meant boiling or melting and came to be associated with the melting and casting of metals into bars or ingots.
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