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Direction: Read the following passage and answer the questions that follow:
Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.
“He has opened an account with PNB and every day he makes number of transactions, both deposits and withdrawals.”
Q. Identify the bank account stated in the above line.
  • a)
    Savings Account
  • b)
    Fixed Deposit Account
  • c)
    Current Account
  • d)
    Demat Account
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Direction: Read the following passage and answer the questions that f...
  • The bank account stated in the above line is Current account.
  • A current account, also known as financial account is a type of deposit account maintained by individuals who carry out significantly higher number of transactions with banks on a regular basis. It is created by the bank on request of the applicant and is made available for frequent or immediate access.
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Most Upvoted Answer
Direction: Read the following passage and answer the questions that f...
Current account is correct answer because it doesn't have certain limitation so person can withdraw and deposit money in bank in that bank doesn't allow interest.Usullay this account is preferable for workers and laboures.
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Community Answer
Direction: Read the following passage and answer the questions that f...
Current Account

Current Account is the bank account stated in the passage where Mr. Krishna Kumar makes a number of transactions, both deposits, and withdrawals, to conduct his business smoothly. Here are some key points to understand about a Current Account:

- Definition: A Current Account is a type of bank account that is typically used by businesses and entrepreneurs for frequent and regular transactions.

- Features: Current accounts are designed to facilitate a large number of transactions and usually do not have a limit on the number of transactions that can be made.

- Usage: Current accounts are suitable for businesses that have a high volume of transactions, as they provide easy access to funds through checks, ATM withdrawals, and electronic transfers.

- Interest: Unlike Savings Accounts, Current Accounts usually do not earn any interest on the deposited amount.

- Overdraft Facility: Current Accounts may also offer an overdraft facility, which allows the account holder to withdraw more than the available balance in the account.

In the given context, Mr. Krishna Kumar's Current Account with PNB is essential for his business operations as it allows him to make daily transactions without any restrictions on the number of deposits and withdrawals.
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Direction: Read the following text and answer the questions given below:The Government is considering an innovative proposal to launch a single card having the features of both debit and credit card in order to improve the existing card facility and to increase the ease and usage for the consumers to carry out monetary transactions. The card will have unique advantages as it could be used for making a variety of payments like utility bills, metro and bus tickets, parking fee, etc., other than shopping and cash withdrawal facility. After this announcement was made, many banks decided to bring out a similar product i.e., a debit-cum-credit card. Your Bank Ltd., a private bank became the first one to exploit this opportunity. They launched a card called ‘DRCR Card’ in this era of increasing digitization. In order to improve their sales, a unique feature was added to the card that it could also be used for making international transactions within the home country and abroad as well. In order to meet the increasing demand of the customers and to capture the market, they planned to hire more sales force and marketing personnel to reach the end customer. They also trained their staff and prepared guidelines regarding the issue, usage, renewal, withdrawal and charges related to the new card.“ Your Bank Ltd., a private bank became the first one to exploit this opportunity.” Identify which of the following importance of understanding the business environment is discussed here

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Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.“He has opened an account with PNB and every day he makes number of transactions, both deposits and withdrawals.”Q. Identify the bank account stated in the above line.a)Savings Accountb)Fixed Deposit Accountc)Current Accountd)Demat AccountCorrect answer is option 'C'. Can you explain this answer?
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Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.“He has opened an account with PNB and every day he makes number of transactions, both deposits and withdrawals.”Q. Identify the bank account stated in the above line.a)Savings Accountb)Fixed Deposit Accountc)Current Accountd)Demat AccountCorrect answer is option 'C'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.“He has opened an account with PNB and every day he makes number of transactions, both deposits and withdrawals.”Q. Identify the bank account stated in the above line.a)Savings Accountb)Fixed Deposit Accountc)Current Accountd)Demat AccountCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.“He has opened an account with PNB and every day he makes number of transactions, both deposits and withdrawals.”Q. Identify the bank account stated in the above line.a)Savings Accountb)Fixed Deposit Accountc)Current Accountd)Demat AccountCorrect answer is option 'C'. Can you explain this answer?.
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He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.“He has opened an account with PNB and every day he makes number of transactions, both deposits and withdrawals.”Q. Identify the bank account stated in the above line.a)Savings Accountb)Fixed Deposit Accountc)Current Accountd)Demat AccountCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.“He has opened an account with PNB and every day he makes number of transactions, both deposits and withdrawals.”Q. Identify the bank account stated in the above line.a)Savings Accountb)Fixed Deposit Accountc)Current Accountd)Demat AccountCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.“He has opened an account with PNB and every day he makes number of transactions, both deposits and withdrawals.”Q. Identify the bank account stated in the above line.a)Savings Accountb)Fixed Deposit Accountc)Current Accountd)Demat AccountCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. 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