Assertion (A): Demand Deposits are considered as a convenient mode of payment for execution of even the high value transactions.
Assertion (A): Demand Deposits are considered as a convenient mode of payment for execution of even the high value transactions.
Reason (R): Demand Deposits are non-withdrawable in nature and can not be withdrawn against issue of cheques and other similar instruments of payment.
Alternatives:
(a) Both Assertion (A) and Reason (R) are True and Reason (R) is the correct explanation of Assertion (A).
(b) Both Assertion (A) and Reason (R) are True and Reason (R) is not the correct explanation of Assertion (A).
(c) Assertion (A) is True but Reason (R) is False
(d) Assertion (A) is False but Reason (R) is True
Anurag Pathak Changed status to publish January 5, 2024
Ans – (c)
Explanation:-
Assertion (A) is correct as the money from the demand deposits can be withdrawn on demand and a convenient mode of payment for the execution of even the high-value transactions.
Reason (R) is false as demand deposits are withdrawable in nature against cheques.
Anurag Pathak Changed status to publish January 5, 2024
