A corporation is an organization, usually a group of people or a company, authorized to act as a single entity (legally a person) and recognized as such in law.
The acts of its owners bind the corporation is not true about corporation.
When an account is declared as Inoperative & Dormant Accounts?
A) Only after 2 years from the date of the lasttransaction
B) Only after 3 years from the date of the lasttransaction
C) Only after 1 years from the date of the lasttransaction
D) Only after 10 years from the date of thelast transaction
A) Only after 2 years from the date of the lasttransaction
B) Only after 3 years from the date of the lasttransaction
C) Only after 1 years from the date of the lasttransaction
D) Only after 10 years from the date of thelast transaction
Answer & ExplanationAnswer: A) Only after 2 years from the date of the lasttransaction
Explanation:
Schedule bank’s account can be treated as inoperative account only after 2 years from the date of the last credit entry of interest on Fixed Deposit account as per RBI guidelines.
In the following question, out of the four alternatives, choose the word which best expresses the meaning of the given word and click the button corresponding to it.
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