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Single Answer MCQ
Q-00045424

What are demand deposits?

1

Money deposited with conditions

2

Money available on demand

3

Foreign currency deposits

4

Long-term savings accounts

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Sandeep Chaturvedi

Sandeep Chaturvedi

CBSE Social Science & Humanities Reviewer

Social science and humanities educator with 14+ years of experience reviewing CBSE SST, economics, commerce, arts, and vocational content.

M.A. HistoryM.A. Political ScienceB.Ed.

Answer and Solution

Answer

B. Money available on demand

Solution:

Demand deposits refer to money that can be withdrawn from a bank account at any time without prior notice. They are easily accessible for everyday transactions.

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