Accountancy, asked by yuvi6232, 6 months ago

account records the transactions relating to goods​

Answers

Answered by samarthmethwani
0
But I will send it out tomorrow and send
Answered by priyaag2102
0

Current account records transactions relating to goods.

Explanation:

  • The current account records payments and receipts of transactions concerning invisible items (services), visible items (goods), one-sided transfers, and income.

  • A current account is opened by someone who has a greater number of regular transactions with the bank.  

  • It includes withdrawals, deposits, and contra transactions. It is also called a Demand Deposit Account.

  • Current accounts can be opened in any commercial bank and co-operative bank.

  • In a current account, capital can be withdrawn and deposited at any time short of giving any notice.  

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