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WAEC Commerce 2003 Question 23

Question 23

Banking

To sell a bill at less than the face value before its maturity is

  1. A.discounting
  2. B.retiring
  3. C.accepting
  4. D.noting
Show the answer and explanation

Answer: A (discounting)

Explanation

Discounting a bill means selling it before maturity for less than its face value.