Which of the following is not a characteristic of a commercial bank?

Assessment: WAEC SSCE - Commerce - 2022 (Objective) Subject: Commerce

Question 1 Report

Which of the following is not a characteristic of a commercial bank?

Answer Details
The characteristic that is not of a commercial bank is "Established to issue bank notes". Commercial banks are established as limited liability companies with the aim of making profits by offering financial services such as accepting deposits, granting loans, and providing various financial services to individuals, businesses, and governments. They are also established by individuals or organizations, but they are not specifically established to issue banknotes, as that is the function of a central bank.
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