ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!


    Question

    Which of the following facilities is given to the

    individual to continue withdrawing money even if he/she has no enough funds in his/her account?
    A Demand draft Correct Answer Incorrect Answer
    B Current account Correct Answer Incorrect Answer
    C Overdraft Correct Answer Incorrect Answer
    D Zero balance Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    An┬а overdraft ┬а is an extension of credit from a lending institution when an account reaches zero.┬а An overdraft ┬а allows the individual to continue withdrawing money even if the account has no funds in it or not enough to cover the withdrawal.

    Practice Next
    More Economy and Banking and Finance Static Concepts Questions
    ask-question