JAMB Economics 1999 Question 40

Question 40

Financial Institutions

Bills of exchange originate from a

  1. A.central bank
  2. B.commercial bank
  3. C.community bank
  4. D.development bank.
Show the answer and explanation

Answer: B (commercial bank)

Explanation

Of the options, commercial banks are the ones that draw, accept and discount bills of exchange for traders.