WAEC Commerce 1997 Question 93

Question 93

Banking

Which of the following is not a function of merchant banks?

  1. A.Granting long term loans
  2. B.Advising corporate institutions
  3. C.Underwriting shares
  4. D.Discounting bills
  5. E.Printing new bank notes
Show the answer and explanation

Answer: E (Printing new bank notes)

Explanation

Only the Central Bank issues bank notes.