The bank charges levied on a current account holder is the charge on?

Accounts - Principles of Accounts

JAMB 2010

A. transaction
B. turnover
C. transfer
D. cash received

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Correct Answer: Option B

Explanation

Charge on turnover (COT) also known as Commission on turnover are charges a customer incurs for debit transactions (transaction involving withdrawals and/or operating cost to the bank) from his current account.

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The bank charges levied on a current account holder is the charge on?

Correct Answer: Option B

Explanation

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