Question : Which of the following is a feature of a current account?
Option 1: High interest rate
Option 2: No limit on the number of transactions allowed per month
Option 3: Fixed maturity period
Option 4: Low minimum balance requirement
Correct Answer: No limit on the number of transactions allowed per month
Solution : The correct answer is (b). No limit on the number of transactions allowed per month
A current account is a type of bank account that is primarily used for business transactions. It is designed to facilitate frequent and regular transactions, both deposits and withdrawals. One of the key features of a current account is that there is typically no limit on the number of transactions that can be conducted within a month. This allows businesses to make multiple transactions, including payments to suppliers, salary disbursements, and other business-related expenses, without any restrictions.
Question : Which of the following is a feature of a savings bank account?
Option 1: Low interest rate
Option 2: Limited number of transactions allowed per month
Option 3: High minimum balance requirement
Option 4: High liquidity
Option 2: Fixed maturity period
Option 3: Withdrawals allowed at any time
Option 4: No limit on withdrawals
Question : Which of the following is a feature of a savings account?
Question : Which of the following is a feature of a commercial paper?
Option 1: Low liquidity
Option 2: High credit rating requirement
Option 3: High interest rate
Option 4: No fixed maturity period
Question : Which of the following is a feature of a fixed deposit account?
Option 1: Flexible maturity period
Option 2: Withdrawals allowed at any time
Option 3: Low interest rate
Option 4: Penalty for premature withdrawal
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