Banks settle their indebtedness in the
COMMERCE
WAEC 2011
Banks settle their indebtedness in the
- A. discount house
- B. stock exchange market
- C. commercial bank
- D. clearing house
Correct Answer: D. clearing house
Explanation
A clearing house is a bankers' establishment where cheques and bills from member banks are exchanged, so that only the balances need be paid in cash.
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