Which of the following is not a characteristic of a commercial bank?
A. Established as limited liability company B. Established by individuals or organizations C. Established to issue bank notes D. Established with the view of making profit
Correct Answer: C
Explanation
The characteristics of commercial banks are: - it is a limited liability company - the motive for its establishment is profit making - they are members of the money market - commercial banks are incorporated - they accept deposits and other valuables. - they are owned by private individuals, institutions or governments.
