Class 10 Exam > Class 10 Questions > Find the incorrect option:a)Demand deposit s...
Start Learning for Free
Find the incorrect option:
- a)Demand deposit share the essential features of money
- b)With demand deposit payments can be made without cash
- c)Demand deposits are safe way of money transformation
- d)Demand deposit facility is like cheque
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Find the incorrect option:a)Demand deposit share the essential featur...
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 Because the deposits in the bank account can be withdrawn on demand, these deposits are called demand deposits. Cheques against a deposit settle payments without the use of direct cash.
Free Test
FREE
| Start Free Test |
Community Answer
Find the incorrect option:a)Demand deposit share the essential featur...
Incorrect Option: D
Explanation:
Demand deposits are a type of bank account where the funds deposited can be withdrawn by the account holder at any time on demand. These deposits have several features that make them similar to money, but there are also some differences. Let's examine each option to understand why option D is incorrect.
a) Demand deposit share the essential features of money:
- Demand deposits exhibit some essential features of money such as being a medium of exchange, a store of value, and a unit of account.
- They can be used to make payments for goods and services, just like physical cash.
b) With demand deposit payments can be made without cash:
- This statement is true. Demand deposits enable individuals to make payments without the need for physical cash.
- Payments can be made through various electronic methods such as online transfers, debit cards, and mobile banking.
c) Demand deposits are a safe way of money transformation:
- This statement is generally true. Demand deposits are considered safe as they are held in banks, which are regulated and supervised by authorities.
- Banks have security measures in place to protect the funds deposited by their customers.
- However, there is always a certain level of risk involved in any financial transaction, including demand deposits.
d) Demand deposit facility is like a cheque:
- This statement is incorrect. While demand deposits and cheques are related to banking, they are not the same thing.
- A demand deposit refers to the account itself, where funds are held and can be accessed by the account holder.
- A cheque, on the other hand, is a written order from an account holder instructing the bank to pay a specific amount of money to a designated recipient.
- A demand deposit facility may provide the option to issue cheques, but it is not synonymous with a cheque.
Therefore, the incorrect option is D, as demand deposit facilities are not the same as cheques.
Explanation:
Demand deposits are a type of bank account where the funds deposited can be withdrawn by the account holder at any time on demand. These deposits have several features that make them similar to money, but there are also some differences. Let's examine each option to understand why option D is incorrect.
a) Demand deposit share the essential features of money:
- Demand deposits exhibit some essential features of money such as being a medium of exchange, a store of value, and a unit of account.
- They can be used to make payments for goods and services, just like physical cash.
b) With demand deposit payments can be made without cash:
- This statement is true. Demand deposits enable individuals to make payments without the need for physical cash.
- Payments can be made through various electronic methods such as online transfers, debit cards, and mobile banking.
c) Demand deposits are a safe way of money transformation:
- This statement is generally true. Demand deposits are considered safe as they are held in banks, which are regulated and supervised by authorities.
- Banks have security measures in place to protect the funds deposited by their customers.
- However, there is always a certain level of risk involved in any financial transaction, including demand deposits.
d) Demand deposit facility is like a cheque:
- This statement is incorrect. While demand deposits and cheques are related to banking, they are not the same thing.
- A demand deposit refers to the account itself, where funds are held and can be accessed by the account holder.
- A cheque, on the other hand, is a written order from an account holder instructing the bank to pay a specific amount of money to a designated recipient.
- A demand deposit facility may provide the option to issue cheques, but it is not synonymous with a cheque.
Therefore, the incorrect option is D, as demand deposit facilities are not the same as cheques.
|
Explore Courses for Class 10 exam
|
|
Top Courses for Class 10View all
Question Description
Find the incorrect option:a)Demand deposit share the essential features of moneyb)With demand deposit payments can be made without cashc)Demand deposits are safe way of money transformationd)Demand deposit facility is like chequeCorrect answer is option 'D'. Can you explain this answer? for Class 10 2025 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about Find the incorrect option:a)Demand deposit share the essential features of moneyb)With demand deposit payments can be made without cashc)Demand deposits are safe way of money transformationd)Demand deposit facility is like chequeCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 10 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the incorrect option:a)Demand deposit share the essential features of moneyb)With demand deposit payments can be made without cashc)Demand deposits are safe way of money transformationd)Demand deposit facility is like chequeCorrect answer is option 'D'. Can you explain this answer?.
Find the incorrect option:a)Demand deposit share the essential features of moneyb)With demand deposit payments can be made without cashc)Demand deposits are safe way of money transformationd)Demand deposit facility is like chequeCorrect answer is option 'D'. Can you explain this answer? for Class 10 2025 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about Find the incorrect option:a)Demand deposit share the essential features of moneyb)With demand deposit payments can be made without cashc)Demand deposits are safe way of money transformationd)Demand deposit facility is like chequeCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 10 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the incorrect option:a)Demand deposit share the essential features of moneyb)With demand deposit payments can be made without cashc)Demand deposits are safe way of money transformationd)Demand deposit facility is like chequeCorrect answer is option 'D'. Can you explain this answer?.
Solutions for Find the incorrect option:a)Demand deposit share the essential features of moneyb)With demand deposit payments can be made without cashc)Demand deposits are safe way of money transformationd)Demand deposit facility is like chequeCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 10.
Download more important topics, notes, lectures and mock test series for Class 10 Exam by signing up for free.
Here you can find the meaning of Find the incorrect option:a)Demand deposit share the essential features of moneyb)With demand deposit payments can be made without cashc)Demand deposits are safe way of money transformationd)Demand deposit facility is like chequeCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Find the incorrect option:a)Demand deposit share the essential features of moneyb)With demand deposit payments can be made without cashc)Demand deposits are safe way of money transformationd)Demand deposit facility is like chequeCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for Find the incorrect option:a)Demand deposit share the essential features of moneyb)With demand deposit payments can be made without cashc)Demand deposits are safe way of money transformationd)Demand deposit facility is like chequeCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of Find the incorrect option:a)Demand deposit share the essential features of moneyb)With demand deposit payments can be made without cashc)Demand deposits are safe way of money transformationd)Demand deposit facility is like chequeCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Find the incorrect option:a)Demand deposit share the essential features of moneyb)With demand deposit payments can be made without cashc)Demand deposits are safe way of money transformationd)Demand deposit facility is like chequeCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice Class 10 tests.
|
|
Explore Courses for Class 10 exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup