WAEC Commerce 2012 Objective — Question 27
Question 27 of 50 from the West African Examinations Council (WAEC) Commerce 2012 Objective paper, with the correct answer and a full explanation.
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A written instruction by a current account holder to his bank to debit his account at regular intervals with a specified amount for a given period is known as a
- A. standing orderCorrect
- B. money order
- C. bank draft
- D. overdraft
Explanation
Standing order is an instruction issued to banks to pay a certain amount to a certain person periodically.
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