JAMB Commerce 2008 Objective — Question 17
Question 17 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2008 Objective paper, with the correct answer and a full explanation.
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17. The account maintained with a commercial bank for the purpose of foreign exchange transaction is the
- A. foreign account
- B. international account
- C. domiciliary accountCorrect
- D. foreign reserves account
Explanation
A domiciliary account is maintained with a bank to enable use of foreign currency such as dollars in Nigeria.
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