Post Utme Covenant University 2023 Commerce Question 9

Practice objective / multiple choice question 9 from the 2023 Post Utme Covenant University Commerce examination.

Post Utme Covenant University 2023 Commerce Objective / Multiple Choice
Question 9 POST_UTME_COVENANT_UNIVERSITY • 2023 • COMMERCE • objective

A bank's reserve requirement is 10%. If the bank has ₦1,000,000 in deposits, how much must it keep in reserve?

Answer Options

Correct Answer A. ₦100,000
B. ₦200,000
C. ₦300,000
D. ₦400,000
Correct Answer
A
Correct Option:
₦100,000

About This Question

This is Post Utme Covenant University 2023 Commerce Question 9. It is one of the objective questions from the 2023 Post Utme Covenant University Commerce examination.

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