Day: May 22, 2019

A current account is…?

Select ONE answer:

1. a bank account on which cheques can be drawn.
2. a bank account on which cheques cannot be drawn.
3. a bank account which does not pay interest.
4. None of the above.

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct
2. This is usually the principal reason for opening a current account. If you do not wish to be able to write cheques, you should normally open a deposit account or savings account.
3. Some banks pay interest on money in current accounts while others do not.
4. Not correct

 

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