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WAEC Commerce 2022 Question 20

Question 20

Banking

One of the functions of commercial banks that cannot be performed by central banks is

  1. A.collection of old notes
  2. B.collection of deposits from the public
  3. C.issuance of treasury bills
  4. D.printing of bank notes
Show the answer and explanation

Answer: B (collection of deposits from the public)

Explanation

A central bank is the bankers' bank and government's bank; it does not take deposits from ordinary members of the public, which commercial banks do.