State whether the following statements are True or False:
i. Joint Stock Company opens Current Account.
ii. Generally, no interest is paid by the bank on the Current Account.
iii. In cash credit, the customer’s account is credited by the bank with the sanctioned amount.
iv. Board resolution is not required to open the Current Account with the bank.
v. The bank account of the company is operated by shareholders.
vi. Overdraft facility is granted to Savings account holders.
vii. Bank correspondence should be brief and to the point.
viii. It is necessary to instruct the bank to stop the payment of a cheque that is lost.
ix. A bank overdraft facility is a long-term facility.
x. Banks grant long-term loans only.