WAEC Economics 2014 Objective — Question 45
Question 45 of 50 from the West African Examinations Council (WAEC) Economics 2014 Objective paper, with the correct answer and a full explanation.
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A financial institution established for the purpose of providing specialized services like acceptance of bills of exchange and equipment leasing is known as
- A. merchant BankCorrect
- B. Development Bank
- C. Central Bank
- D. Insurance company
Explanation
Merchant Banks provide some services that make them different from commercial banks, such as acceptance of bills of exchange and equipment leasing.
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