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New Forms of Money

Since the dep...

Question

Since the deposits in the bank accounts can be withdrawn on demand, these deposits are called ________.

A

demand deposits

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B

fixed deposits

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C

commercial deposits

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D

deposits with bank

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Solution

The correct option is A demand deposits

People deposit their savings in banks. They can withdraw their money whenever required.
Because the deposits in the bank account can be withdrawn on demand, these deposits are called demand deposits.

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