The Cash Book - Banking - Current Accounts
5 important questions on The Cash Book - Banking - Current Accounts
What is the purpose of a bank?
Explain what a deposit account means.
The bank pays interest on amounts invested in deposit accounts.
What is a current account?
This is a service provided by a bank which allows customer to continue to make with drawals from an account even when there is not enough money in the account to cover them.
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
Can you elaborate the meaning of LOAN ACCOUNTS?
The loan is usually long term (say, 3 or 5 years) for a set period and interest is paid to the bank by the borrower.
What is the main advantage of using CURRENT ACCOUNTs?
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding