Question

Read the following statements - Assertion (A) and Reason(R), Choose one of the correct alternatives given below:

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Reason (R): Demand Deposits are non-withdrawable in nature and cannot be withdrawn against the issue of cheques and other similar instruments of payment.

Options

• Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

• Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).

• Assertion (A) is true but Reason (R) is false.

• Assertion (A) is false but Reason (R) is true.

Answer 1

Assertion (A) is true but Reason (R) is false.