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Which of the following objectives would be better evaluated using criterion-referenced grading rather than norm-referenced grading?
Official Currency
The legally recognized money within a sovereign nation, used for all financial transactions and obligations.
Instrument Payable
A financial document promising to pay a specified amount of money to a person in possession or to their order.
Time Paper
A financial document or instrument that is payable at a future specified date, not upon demand or presentation.
Negotiable Instrument
A written document guaranteeing the payment of a specific amount of money, either on-demand or at a set time, with the payee’s name either mentioned or left blank.
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