Post Utme Crawford University 2017 Commerce Question 8

Practice objective / multiple choice question 8 from the 2017 Post Utme Crawford University Commerce examination.

Post Utme Crawford University 2017 Commerce Objective / Multiple Choice
Question 8 POST_UTME_CRAWFORD_UNIVERSITY • 2017 • COMMERCE • objective

A bank has a reserve requirement of 10% and a cash reserve of ₦1,000,000. If the bank's total deposits are ₦10,000,000, what is the bank's excess reserves?

Answer Options

Correct Answer A. ₦900,000
B. ₦1,000,000
C. ₦1,100,000
D. ₦1,200,000
Correct Answer
A
Correct Option:
₦900,000

About This Question

This is Post Utme Crawford University 2017 Commerce Question 8. It is one of the objective questions from the 2017 Post Utme Crawford University Commerce examination.

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