JAMB Commerce 2014 Objective — Question 28
Question 28 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2014 Objective paper, with the correct answer and a full explanation.
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A loan to a customer with a cheque account at a bank in which the account is allowed to go into debit is
- A. overdraftCorrect
- B. advance
- C. interest
- D. commission
Explanation
Overdraft is the amount above the balance of a current account which an holder is allowed to withdraw.
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