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The savings deposit in a commercial bank is called

Economics
JAMB 2005

The savings deposit in a commercial bank is called

  • A. Capital
  • B. Fund
  • C. Near
  • D. Money
  • E. Call money
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Correct Answer: Option C
Explanation

Near money is a term used to describe non-cash assets that are very liquid and that are easily convertible into cash. It is also referred to as quasi-money or cash equivalents. Examples of near money are: Savings accounts held in banks.

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