WAEC Commerce 2014 Theory — Question 41

Question 41 of 50 from the West African Examinations Council (WAEC) Commerce 2014 Theory paper, with the correct answer and a full explanation.

One of the functions of a central bank is to

A. perform supervisory role over all the banks in the countryCorrect
B. provide the means of payment to individuals
C. ensure the smooth transfer of shares
D. accept private deposits

Explanation

The central bank is the regulating authority for all financial institutions in the country, including performing a supervisory role over commercial banks.

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