State whether the following statements are TRUE or FALSE.
5. The main objective of a Central Bank is to earn profit.
Answer:
5. The main objective of a Central Bank is to earn profit. - False
Explanation:
The central bank is the apex institution of a country's monetary system. The main objective of this bank is to regulate and control the activities of all the commercial banks and other financial institutions of the country. However, profit making is not the main objective of the central bank.
