Balance in a current account is classified as which of the following? Options: A . &nbspHybrid deposit B . &nbspTerm deposit C . &nbspDemand deposit D . &nbspFixed deposit

Balance in a current account is classified as which of the following?

Question - Balance in a current account is classified as which of the following?

Options:

A . Hybrid deposit

B . Term deposit

C . Demand deposit

D . Fixed deposit

Answer: Option C
DEMAND DEPOSITS, BANK MONEY OR SCRIPTURAL MONEY ARE FUNDS HELD IN DEMAND DEPOSIT ACCOUNTS IN COMMERCIAL BANKS.

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