Question

What do you understand by demand deposits? (3) ​

Answer 1

Explanation:

A demand deposit account (DDA) consists of funds held in a bank account from which deposited funds can be withdrawn at any time, such as checking accounts. DDA accounts can pay interest on a deposit into the accounts but aren't required.

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Answer 2

A demand deposit account consists of funds held in a bank account from which deposited funds can be withdrawn at any time, such as checking accounts.