📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    00:00:00 AM Left

    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?
    A 1 and 2 only Correct Answer Incorrect Answer
    B 1 and 3 only Correct Answer Incorrect Answer
    C 2 and 3 only Correct Answer Incorrect Answer
    D 1, 2 and 3 Correct Answer Incorrect Answer
    E 3 only Correct Answer Incorrect Answer

    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.

    Practice Next
    More Financial Management Questions
    ask-question