Commerce JAMB

The major source of income to commercial banks is?

A. tourism
B. banking
C. communication
D. transportation

Correct Answer:

Option B – banking

Explanation

Banking has to do with engaging in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit etc. it consist of transacting business with a bank; depositing or withdrawing funds or requesting a loan etc. in another aspect, it is the legal right of a bank to seize deposited funds to cover a loan that is in default

Commercial banks are those that provide the general public with deposit and withdrawal accounts services, and with loans. The odds are you deal with a commercial bank on a regular basis. There are a variety of methods by which commercial banks make a profit, including fees, credit card interest, loans and optional add-ons.

Sunday

Share
Published by
Sunday
Tags: Commerce

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

2 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

2 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

2 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

2 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

2 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

2 months ago