150 Views

Question : Assertion (A): Demand Deposits are considered a convenient mode of payment for the execution of even high-value transactions.

Reason(R): Demand Deposits are non-withdrawable in nature and cannot be withdrawn against the issue of cheques and other similar instruments of payment.

Option 1: Both Assertion (A) and Reason(R) are true and Reason (R) is the correct explanation of Assertion (A)

Option 2: Both Assertion (A) and Reason(R) are true, but Reason (R) is not the correct explanation of Assertion (A)

Option 3: Assertion (A) is true, but Reason (R) is false.

 

Option 4: Assertion (A) Is false, but Reason (R) is true.


Team Careers360 1st Jan, 2024
Answer (1)
Team Careers360 6th Jan, 2024

Correct Answer: Assertion (A) is true, but Reason (R) is false.

 


Solution : The correct answer is (c). Assertion (A) is true, but Reason (R) is false.

Assertion is true because demand deposits are a type of bank deposit that can be withdrawn at any time. This makes them a convenient mode of payment for even high-value transactions.

Reason is false because demand deposits can be withdrawn against the issue of cheques and other similar instruments of payment. In fact, this is the main way that demand deposits are withdrawn.

Therefore, the answer is (c). Assertion (A) is true, but Reason (R) is false.

Related Questions

Amity University-Noida B.Tech...
Apply
Among top 100 Universities Globally in the Times Higher Education (THE) Interdisciplinary Science Rankings 2026
Amity University-Noida MBA Ad...
Apply
Ranked among top 10 B-Schools in India by multiple publications | Top Recruiters-Google, MicKinsey, Amazon, BCG & many more.
Narayana Business School MBA/...
Apply
Top 30 Private B-Schools Nationally and Top 3 in Gujarat | Highest CTC- 20 LPA | Average CTC- 8.4 LPA | 40% Pre-Placement Offers | 670+ Recruiters 
Amity University | M.Tech Adm...
Apply
Asia’s only university to be awarded the highest accreditation by WASC, USA and by the Quality Assurance Agency for Higher Education (QAA), UK
JAGSoM PGDM Admissions 2026
Apply
Highest CTC 51.38 LPA | Median CTC 10.32 LPA | Top 25% Average CTC 14.32 LPA
IFMR Graduate School of Busin...
Apply
Application Deadline 15th Jan’26 | UGC Approved Programs | Near 100% Placement Record | Up to 100% Scholarships | Highest CTC 21.32 LPA
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books