Distinguish between the following:
Current Account and Savings Account.
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Receipts and payments Account is a - (A) Personal Account (B) Real Account (C) Nominal Account
Correct option is: (B) Real Account
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Current Account is - (A) Personal Account (B) Real Account (C) Nominal Account (D) None of these
Correct option is: (A) Personal Account
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Premium on Redemption of Debenture A/C is - (A) Personal account (B) Real account (C) Nominal account
Correct option is: (D) Suspense account
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i. A slip is used for depositing cash and cheque in the Bank account. ii. Permission to withdraw excess amount from Current Account.
i. Pay-in-slip ii. Overdraft iii. Cash credit iv. Overdraft v. Current Account vi. Stop payment request vii. Fixed Deposit Account viii. Withdrawal Slip ix. Bill of exchange
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i. Joint Stock Company opens Current Account. ii. Generally, no interest is paid by the bank on the Current Account.
i. True ii. True iii. True iv. False v. False vi. False vii. True viii. True ix. False x. False
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Distinguish between the following: Fixed Deposit Account and Recurring Deposit Account.
2 Answers
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Businessman generally operates savings bank account.
This statement is False. Businessman generally operates a current account with the bank.
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Farhan opens a savings bank account on `5-5-2007` in UTI Bank by depositing Rs.1000. The interest paid by the band, if the closed her account on `4-1-
Correct Answer - Rs. 40.
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Charan opens a savings bank account on `6-3-2007` depositing Rs. 750 in Union Bank of India. He deposit Rs.1000 on `15-3-2007` and withdraws Rs. 500 o
Correct Answer - Rs. 750
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Sekhar has a savings account in a bank with an annual interest rate of 5%. If the inflation rate goes up to 7%,
B) It will decrease
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