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JAMB Commerce 2004 Question 20

Question 20

Business Finance

Sources of finance to a business include personal savings, shares, debentures and

  1. A.loans from IMF
  2. B.bank overdrafts
  3. C.central bank loans
  4. D.money from political parties
Show the answer and explanation

Answer: B (bank overdrafts)

Explanation

Businesses commonly borrow from commercial banks by overdraft; the IMF and the Central Bank do not lend to private firms.