When businessman pays money to bank it is known as _________________.

withdrawal

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deposit

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expenses

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liability

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Solution

The correct option is A deposit
The bank is a keeper of our money and safeguards it also paying an interest.
If any money is paid to the bank which is not in a form of interest or penalty or any fees, it is a deposit which is payable by bank on demand.

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When businessman pays money to bank it is known as _________________.

The correct option is A depositThe bank is a keeper of our money and safeguards it also paying an interest.If any money is paid to the bank which is not in a form of interest or penalty or any fees, it is a deposit which is payable by bank on demand.

The correct option is A deposit
The bank is a keeper of our money and safeguards it also paying an interest.
If any money is paid to the bank which is not in a form of interest or penalty or any fees, it is a deposit which is payable by bank on demand.