Select the correct answer from the options given below and rewrite the statements.

1) A company usually opens ……………….. account in a bank.
a) Current    b) Saving   c) Recurring
Ans:-a) Current

2) Bank is a ……………….. institution.
a) financial    b) social     c) cultural
Ans:-a) financial

3) The appointment of banker is usually made by the ……………….. .
a) Board of Directors    b) Secretary    c) Chairman
Ans:-a) Board of Directors  

4) Resolution for opening Bank Account is passed in the ……………….. meeting.
a) Board     b) Statutory    c) Annual General
Ans:-a) Board    

5) Bank provides overdraft facility to ……………….. account holder.
a) Current    b) Saving    c) Fixed Deposit
Ans:-  a) Current

6) ……………….. is used for depositing cash into a bank account.
a) Pay-in-slip    b) Withdrawal slip    c) Cheque
Ans:-a) Pay-in-slip

7) Borrowing/Accepting and lending money are considered as ………………. functions of bank.
a) Primary     b) Secondary     c) Agency
Ans:- a) Primary

8) Withdrawals are not permitted from the ……………….. deposit account.
a) Fixed     b) Current     c) Savings
Ans:-a) Fixed

9) ……………….. account is suitable to salaried people.
a) Savings   b) Current    c) Fixed
Ans:-a) Savings  

10) Generally Interest is not paid on ……………….. deposit account.
a) Current    b) Saving     c) Fixed
Ans:-a) Current

11) A deposit which is kept for fixed period in bank is called ……………….. deposit.
a) Fixed     b) Current      c) Recurring
Ans:-a) Fixed