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Question
Explain the following term/concept.
Interest on Deposit
Solution
The company accepts deposits in order to meet the short-term requirement of the company. A deposit is a borrowed capital. The company is liable to pay a fixed rate of interest on the amount invested in deposits by the depositors. The company pays interest through interest warrant or electronic mode i.e. NEFT, ECS etc.
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RELATED QUESTIONS
Select the correct answer from the options given below and rewrite the statement.
Depositors provide ______ Capital to the company.
Select the correct answer from the options given below and rewrite the statement.
Deposits are ______ loans of the company.
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Instrument for payment of interest on deposit.
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Return of deposits on maturity date.
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Maximum period of deposits.
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Fixed Deposit holder is creditor of the company.
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Deposits are invited by the company without issuing statutory advertisement.
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The ______ must be cautious and careful while writing letters to the depositors.
Select the correct option from the bracket.
| Group ‘A’ | Group ‘B’ |
| a) Depositor | 1) ____________ |
| b) Return on Deposits | 2) ____________ |
| c) ______________ | 3) Maximum Period of Deposits |
| d) Minimum Period of Deposits | 4) ____________ |
(Interest, Creditor of the company, 36 months, 6 months)
Answer in one sentence.
Who is depositor?
Answer in one sentence.
What is Interest Warrant?
Correct the underlined word and rewrite the following sentence.
Deposits are the internal source of financing.
Correct the underlined word and rewrite the following sentence.
Deposit is a long term source of capital.
Arrange in proper order
- Renewal of Deposit
- Acceptance of Deposits
- Deposit Receipt
Answer in brief.
What precautions are to be borne in mind by the Secretary, while corresponding with Depositors.
Justify the following statement.
The Company Secretary should take certain precautions while corresponding with depositors.
State whether the following statements are true or false.
A Private Company can accept the deposits from the general public.
