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GCE Commerce 1990 Question 52

Question 52

Banking

An overdraft is usually granted to a

  1. A.savings account holder
  2. B.deposit account holder
  3. C.current account holder
  4. D.loan account holder
  5. E.fixed deposit account holder
Show the answer and explanation

Answer: C (current account holder)

Explanation

An overdraft lets a current account holder draw cheques for more than his balance.