Procedures for Making Payment

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Topic Content:

Payment by Cash
Payment by Bank Transfer
Payment by Cheque
Bank Draft
E-payment

The methods commonly used for making payments are:

Cash.
Bank transfer.
Cheque.
Bank draft.
E-payment.

1. Payment by Cash:

Payments made by cash, are those goods or services generally acceptable in the country for payments. In Nigeria, the standard units of money, the naira, and kobo are usually accepted as payment

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JSS3: BUSINESS STUDIES - 1ST TERM

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