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WAEC Commerce 1997 Question 89

Question 89

Banking

Which of the following is used in home trade?

  1. A.Bill of lading
  2. B.Bank draft
  3. C.Letter of credit
  4. D.Certificate of origin
  5. E.Documentary credit
Show the answer and explanation

Answer: B (Bank draft)

Explanation

Bank drafts are used for payments within the country; the others are foreign trade documents.