JAMB UTME - Economics - 1999 | Green Bridge CBT

Bills of exchange originates from a?

central bank

commercial bank

community bank

development bank

Détails de la réponse

Bills of exchange originate from a commercial bank. A bill of exchange is a financial document that orders the payment of a certain amount of money from one person or organization to another on a specific date in the future. This document is issued by a seller of goods or services and is used as a means of payment from the buyer. The seller can then take the bill of exchange to a commercial bank and exchange it for cash. Commercial banks are authorized to deal with such documents and are often involved in the process of exchanging bills of exchange for cash or other financial instruments.






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