Complete the sentence:Account which is used only for repaying deposits is called ______. - Secretarial Practice

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Complete the sentence:
Account which is used only for repaying deposits is called ______.

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Solution

Account which is used only for repaying deposits is called Deposit Repayment Reserve Account.

Concept: Terms and Conditions for Acceptance of Deposits
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Chapter 5: Deposits - Exercises [Page 90]

RELATED QUESTIONS

Answer in one sentence.
When should a company Deposit?


Write a word or a term or a phrase which can substitute the following statement.
Company which can accept deposits from public up to 35% of its paid-up share capital and free reserves.


Write a word or a term or a phrase which can substitute the following statement.
Document issued by a company to invite its members to subscribe for its Deposits.


State whether the following statement is true or false.
Return of deposit must be filed every year on or before 31st March.


State whether the following statement is true or false.
Eligible public company can collect deposits from its members.


State whether the following statement is true or false.

Eligible public company can collect deposits from public not exceeding 35% of its paidup share capital and free reserves.


State whether the following statement is true or false.

For secured deposits, company has to create a charge on its tangible assets.


State whether the following statement is true or false.

Deposit Receipt is issued within 21 days of receipt of deposits.


Find the odd one


Select the correct option from the bracket.

Group 'A'

Group 'B'

a) Government Company

1) ___________________

b) ___________________

2) Deposits from members

c) 36 months

3) ___________________

d) ___________________

4) Charge on tangible assets

e) Return of deposit

5)   __________________

(File on or before 30th June, Private Company, Secured deposits, Deposits from public, Maximum tenure of deposits.)


Correct the underlined word and rewrite the following sentence.
Charge on assets is created when company issues unsecured deposit.


Correct the underlined word and rewrite the following sentence.
Minimum tenure of deposit is 36 months.


Explain the following term/concept.
Deposit Trustee


Explain the following term/concept.
Deposit Insurance


Explain the following term/concept.
Deposit Repayment Reserve Account


Answer in brief.
State the contents of circular or Advertisement for Deposit


Justify the following statement.

Companies have to create a charge on their tangible assets while issuing secured deposits.


Find the odd one.


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