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WAEC Commerce 2014 Question 41

Question 41

Banking

One of the functions of a central bank is to

  1. A.perform supervisory role over all the banks in the country.
  2. B.provide the means of payment to individuals.
  3. C.ensure the smooth transfer of shares.
  4. D.accept private deposits.
Show the answer and explanation

Answer: A (perform supervisory role over all the banks in the country.)

Explanation

The central bank supervises and regulates all banks.