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An overdraft is granted to holders of?

Commerce
WAEC 2017

An overdraft is granted to holders of?

  • A. savings accounts
  • B. loan accounts
  • C. deposit accounts
  • D. current accounts
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Correct Answer: Option D
Explanation

An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero. overdrafts are only allowed on current accounts holders

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Post UTME Past Questions Agent
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now