Question
Which of the following is not a characteristic of
bullion? 1) It is traded on commodity exchanges. 2) It is typically bought and sold based on its weight and purity. 3) It may be in the form of coins.Solution
Bullion is traded on commodity exchanges and is typically bought and sold based on its weight and purity. Therefore, statement 2 is correct. However, it is not necessary for bullion to be in the form of coins or jewelry. Therefore, statements 1 and 3 are correct.
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