Post Utme Mountain Top University 2024 Commerce Question 19

Practice objective / multiple choice question 19 from the 2024 Post Utme Mountain Top University Commerce examination.

Post Utme Mountain Top University 2024 Commerce Objective / Multiple Choice
Question 19 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2024 • COMMERCE • objective

A bank's cash reserve ratio is 20%. If the bank has a cash reserve of ₦1,000,000, what is the total amount of deposits it can accept?

Answer Options

A. ₦5,000,000
B. ₦4,000,000
C. ₦3,000,000
Correct Answer D. ₦2,000,000
Correct Answer
D
Correct Option:
₦2,000,000

About This Question

This is Post Utme Mountain Top University 2024 Commerce Question 19. It is one of the objective questions from the 2024 Post Utme Mountain Top University Commerce examination.

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