Question

Why current account is needed?

Answer 1

Answer:

It is of the utmost importance to keep your personal and business assets disjoined. It is always recommended you have a current account so you can track your cash inflow easily. This gives you a superior way of planning and managing your budgets. You also get a roundup on your expenditure.

Answer 2

Explanation:

One of the most important advantages of having a current account for your business is that there is no constraint on the number of transactions. You can transact any number of times at whatever frequency you need to. ... This enables your business to have maximum fluidity in terms of operations.