Question

The depositor can withdraw money at any point of time or after an agreed time period. This character of a bank represents .

• A. a range of services
• B. the profit motive
• C. accepting deposit
• D. advancing loan

Answer 1

The correct option is C accepting deposit

A bank accepts money from the public in the form of deposits and provides interest on the money deposited. The depositor can also withdraw the money at any point of time or after an agreed time period. Until the money is withdrawn, the bank acts as the custodian of the deposit by providing security.