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WAEC Commerce 2004 Question 27

Question 27

Banking

Which of the following services is rendered by Central Bank?

  1. A.provision of brokerage services
  2. B.safe keeping of cash and other valuables
  3. C.discounting bills of exchange
  4. D.issuing currency notes
Show the answer and explanation

Answer: D (issuing currency notes)

Explanation

Only the central bank issues currency notes; safe keeping for the public is a commercial bank service.