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Receipts and Payments Account

Passbook is t...

Question

Passbook is the statement of account of the customer maintained by the bank.

A

True

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B

False

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Solution

The correct option is A True
True. Pass book is a copy of customer's account in the books of the bank. It shows all the transactions of a customer with the bank from the point of view of the bank as it is prepared by the bank.

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