Question

Select the most appropriate alternatives from those given below and rewrite the sentence.

Fixed Deposit A/c comes under _________ group.
a) Deposits
b) Investment
c) Bank A/c
d) Current Asset

Answer 1

Fixed Deposit A/c comes under Investment group.

Explanation:
All ledger accounts are classified into various groups on the basis of their nature. Fixed deposits are the investments made by a business. Thus, it comes under the Investment group of the Balance Sheet in Tally.