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In a modern day banking system, cash transfer cannot be made where the transferor

Accounts - Principles of Accounts
JAMB 2012

In a modern day banking system, cash transfer cannot be made where the transferor

  • A. has no sufficient cash with the bank
  • B. has no account with the bank
  • C. does not reside in the bank's country
  • D. does not possess the domestic currency
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Correct Answer: Option A
Explanation

You can't transfer money when you do not not have sufficient amount of money on the account.

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