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What is a current account? - Commercial Applications

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Question

What is a current account?

Answer in Brief

Solution

Business firms open current accounts. Pass book, cheque book, and overdraft facility are available on a current account. Money can be deposited and withdrawn any number of times. No interest is allowed on a current account.

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Chapter 7: Banking and Bank Transactions - QUESTION BANK [Page 127]

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Goyal Brothers Prakashan Commercial Applications [English] Class 10 ICSE
Chapter 7 Banking and Bank Transactions
QUESTION BANK | Q 7. | Page 127
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