BFN104
Question: Any financial institution that accepts, collects, transfers, pays, exchanges, lends, invests, or safe- guard money for its customers is known as
Answer: Bank
Question: A is an institution which accepts deposits from the public and in turn advances loans by creating credit.
Answer: Bank
Question: How many major stages of monetary evolution do we have?
Answer: Six
Question: The enforcement of the rules and regulations fall on the to sustain the stability of the banking system
Answer: CBN
Question: A bank has many owners, and they elect from their selves a certain number who are entrusted to manage and administer the bank in the day- to-day activities.
Answer: Public Bank
Question: The era of was marked by the movement of man from one end of the earth to the other.
Answer: Spherical adventure
Question: The laws in each economy provides operational definition and functional classification which governs banking practices in the economy.
Answer: Banking
Question: The of a bank are the portion of its total receipts which include discount, interest dividends, and commission
Answer: Profit
Question: A bank with few owners and who attends personally to its management is known as a
Answer: Private Bank
Question: A Bank is different from other financial institutions in that they cannot though they may be accepting deposits
Answer: Create credit
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