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Preparation of Statement of Profit and Loss

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Question

Write a word or phrase or a term which can substitute each one of the following:

The account suitable for salaried people.

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Solution

The account suitable for salaried people - Savings account
Explanation:
Salaried people have a fixed income; therefore, they want to save a part of their income to secure their future. They deposit their income in the savings accounts to earn interest on their savings.
Thus, we can say that a savings account is suitable for salaried people.

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