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Banking Company Accounts - 1 Video Lecture | Advanced Corporate Accounting - B Com
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FAQs on Banking Company Accounts - 1 Video Lecture - Advanced Corporate Accounting - B Com
| 1. What is a banking company account? |  |
| 2. What are the benefits of having a banking company account? | |
Ans. Some benefits of having a banking company account include easy management of finances, access to various banking services like loans and credit facilities, improved financial record-keeping, and increased credibility for the company.
| 3. How can a company open a banking account? | |
Ans. To open a banking company account, a company typically needs to provide relevant documents such as incorporation certificate, company memorandum and articles of association, address proof, identity proof of directors, and other required documents as per the bank's policies.
| 4. What are the different types of banking company accounts available? | |
Ans. The different types of banking company accounts include current accounts, savings accounts, fixed deposit accounts, cash credit accounts, and overdraft accounts, each serving different purposes and offering various features.
| 5. What should a company consider when choosing a banking company account? | |
Ans. When choosing a banking company account, a company should consider factors such as the bank's reputation, account fees and charges, interest rates offered, online banking facilities, customer service, and the suitability of the account for the company's specific financial needs.
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