Post Utme Covenant University 2020 Commerce Question 36

Practice objective / multiple choice question 36 from the 2020 Post Utme Covenant University Commerce examination.

Post Utme Covenant University 2020 Commerce Objective / Multiple Choice
Question 36 POST_UTME_COVENANT_UNIVERSITY • 2020 • COMMERCE • objective

A bank's cash reserve requirement is 10% of its deposits. If the bank has ₦10,000,000 in deposits, how much cash must it hold in reserve?

Answer Options

Correct Answer A. ₦1,000,000
B. ₦1,500,000
C. ₦2,000,000
D. ₦2,500,000
Correct Answer
A
Correct Option:
₦1,000,000

About This Question

This is Post Utme Covenant University 2020 Commerce Question 36. It is one of the objective questions from the 2020 Post Utme Covenant University Commerce examination.

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