what is meaning by the account?
Answers (2)
22nd Jan, 2021
Hello aspirant,
account is an arrangement by which an organisation, basically financial institutions like credit unions or banks accept a customer's financial assets and holds them on behalf of the customers at his/her discretion. There are three types of bank accounts-
- Centralized accounts
- Branch accounts
- Local bank accounts
Hope, this information helps you.
1 like
Comments (0)
22nd Jan, 2021
Hi.
Account has various definitions based on the context.
Such as:
- a record of debit and credit entries to cover transactions involving a particular item or a particular person or concern
- a statement of transactions during a fiscal period and the resulting balance
OR
- a statement explaining one's conduct
OR
- a formal business arrangement providing for regular dealings or services (such as banking, advertising, or store credit) and involving the establishment and maintenance of an account
OR
- a description of facts, conditions, or events
I hope this answers your query.
Good Luck
Comments (0)
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