MyQuestionIcon

2

You visited us 2 times! Enjoying our articles? Unlock Full Access!

Recurring Deposit Account

Against which...

Question

Against which of the following bank deposits can a cheque be issued?

A

Fixed deposit

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Demand deposit

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

C

Time deposit

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

Term deposit

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B
Demand deposit

Demand deposits in commercial banks, i.e. those deposits which can be withdrawn at any time, are also counted as money, especially since people can purchase goods and services in the market by drawing cheques on such deposits.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Which of the following statement(s) is/are correct?Which of the above statement(s) is/are correct?

Only 1
Both 1 and 2
Only 2
None of the Above

Q. Since the deposits in the bank accounts can be withdrawn on demand, these deposits are called ________.

Q. M1 includes net demand deposits and not gross demand deposits, as net demand deposits do not include inter-banking claims.

Q. Which of the following are included in broad money

(M_{3})

1

. Currency with the public.

2

. Demand deposits with banks.

3

. Time deposits with banks.

4

. 'Other' deposits with RBI.
Select the correct answer using the code given.

Q. The deposits one can withdraw on demand are known as demand deposits.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Recurring

MATHEMATICS

Watch in App

explore_more_icon

Explore more

Recurring Deposit Account

Standard X Mathematics

Join BYJU'S Learning Program

CrossIcon