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The instruments of credit include

Commerce
JAMB 2021

The instruments of credit include

  • A. billboards and postal stamps
  • B. payment vouchers and statement of account
  • C. bills of exchange and salary voucher
  • D. bills of exchange and promissory notes
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Correct Answer: Option D
Explanation

Credit instrument means any agreement (written or otherwise) acknowledging an obligation to pay a sum of money on demand or at any future time. They include Banknotes, Bank drafts, Government bonds, bills of exchange, Promissory notes, etc.


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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709