JAMB Commerce 2018 Objective — Question 13
Question 13 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2018 Objective paper, with the correct answer and a full explanation.
Advertisement
Bank giro is a system where
- A. commercial banks can give loan to all customers
- B. a central bank opens accounts for commercial banks
- C. a customer uses a cheque to pay several billsCorrect
- D. a customer closes his account by writing a cheque
Explanation
A bank Giro transfer is a method of transferring money by instructing a bank to directly transfer funds from one account to another without the use of physical cheques.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.