BFN104 Email: bbcnoun@gmail.com Whatsapp: 08131667008 BFN104 The profits of a bank are the portion of its which include discount, interest dividends, and commission Answer: total receipts A is any financial institution that accepts, collects, transfers, pays, exchanges, lends, invests, or safe- guard money for its customers. Answer: bank An unconditional order in writing addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed determinable future time, a sum certain in money to or to the order of a specified person or bearer is known as A bill of exchange All of the following are types of relationships that exists between a customer and a bank except Answer: manager relationship is simply an irredeemable and inconvertible money that derives its power to circulate from the government backing. Answer: fiat The was marked by the simple ownership, possession and control of the natural resources. Answer: era of subsistence A person who will receive the face value of the cheque is known as Answer: payee A bill either drawn payable within Nigeria, or drawn within Nigeria, or drawn within Nigeria upon some person’s resident therein Answer: inland bill Discount Houses provide all the following sources of funds except Answer: reserves The principles of Insurance are all of the following except Answer: principles of insurance claim In Nigeria, the concept of e-money was introduced in Answer: 1966 is the currency in circulation (notes and coins) plus bank deposits. Answer: pure money A is any financial institution that accepts, collects, transfers, pays, exchanges, lends, invests, or safe- guard money for its customers. Answer: bank The following are major sources of funds for Discount houses except Answer: equity finance One of the following is not a major source of funds for Discount houses Answer: equity finance is money that is acceptable to the masses on the strength of government imprints on it. Answer: token money Micro finance Banks can be established by the following except Answer: parnes in business The origin of the bill of exchange act dates back to Answer: 1990 The term \"credit\" is derived from the latin word , meaning to trust Answer: Fiducia Email: bbcnoun@gmail.com Whatsapp: 08131667008