passwella.
Menu

WAEC Commerce 1996 Question 6

Question 6

Banking

The primary purpose of credit cards is to

  1. A.obtain goods without paying cash on the spot
  2. B.obtain a loan from a bank
  3. C.obtain a loan from a trader
  4. D.persuade a businessman to cash a cheque
  5. E.provide a means of identifying the holder
Show the answer and explanation

Answer: A (obtain goods without paying cash on the spot)

Explanation

A credit card lets the holder buy goods and pay later without carrying cash.