A current account is beneficial to its holder as?

Assessment: JAMB UTME - Commerce - 2006 Subject: Commerce

Question 1 Report

A current account is beneficial to its holder as?
Answer Details
A current account is a type of bank account that is primarily used for making transactions such as deposits and withdrawals. It is beneficial to its holder because it allows the holder to make unlimited withdrawals and deposits, and issue cheques to anybody, making it easy to carry out business transactions. The holder also has access to a passbook, which records all transactions made on the account. Therefore, the correct option is "cheques can be issued to anybody".
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