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WAEC Commerce 1994 Question 74

Question 74

Business Finance

Building societies secure the loans granted to customers by

  1. A.debentures
  2. B.stocks
  3. C.mortgages
  4. D.bonds
  5. E.shares
Show the answer and explanation

Answer: C (mortgages)

Explanation

Building society loans are secured by a mortgage on the property.