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WAEC Commerce 2013 Question 20

Question 20

Banking

The use of current account in business is convenient because

  1. A.withdrawal can be made at any time.
  2. B.deposits earn higher interest.
  3. C.loans are always available.
  4. D.notices are necessary before withdrawals.
Show the answer and explanation

Answer: A (withdrawal can be made at any time.)

Explanation

Money in a current account can be withdrawn at any time by cheque.