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Mr Ojo borrowed N54,000 from a Commercial bank and deposited his life assurance certificate with...

Commerce
WAEC 1995
Mr Ojo borrowed N54,000 from a Commercial bank and deposited his life assurance certificate with the bank. The certificate deposited serves as?
  • A. a loan repayment
  • B. a current asset
  • C. an interest charged
  • D. a collateral society
  • E. a part of payment
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Correct Answer: Option D
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