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    Question

    Consider the following statements regarding bullion:

    1) Bullion is a precious metal like gold or silver that is valued by weight and purity.

    2) Bullion is always in the form of coins or jewelry.

    3) Bullion can be in the form of ingots.

    Which of the statements given above is/are correct?

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

    Solution

    Statement 1 is correct as bullion refers to precious metals like gold, silver, or platinum that are valued by weight and purity. Statement 2 is incorrect as bullion can be in the form of bars, ingots, or coins, and is not limited to just coins or jewelry.

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