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WAEC Commerce 2018 Question 10

Question 10

Business Finance

Which of the following is a source of short-term finance to a business?

  1. A.Hire purchase
  2. B.Overdraft
  3. C.Lease
  4. D.Debenture
Show the answer and explanation

Answer: B (Overdraft)

Explanation

A bank overdraft lets a business draw more than it has in its current account for a short period.