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WAEC Commerce 2022 Question 25

Question 25

Banking

Which of the following is not a characteristics of a commercial bank?

  1. A.established as a limited liability company
  2. B.Established by individuals or organizations
  3. C.Established to issue bank notes
  4. D.Established with the view of making profit
Show the answer and explanation

Answer: C (Established to issue bank notes)

Explanation

Only the central bank issues bank notes; commercial banks are profit-making limited companies owned by individuals and organisations.