Maharashtra State BoardHSC Commerce 12th Board Exam
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Explain with Reason Whether You 'Agree' Or 'Disagree' with the Following Statement:Overdraft Facility is Not Provided to the Current Account Holders. - Economics

Explain with reason whether you 'agree' or 'disagree' with the following statement:

Overdraft facility is not provided to the current account holders.

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Solution

No, I disagree to the statement.

Overdraft facility is provided to current account holders. Current account holders are generally companies, firms, businessmen, etc. Overdraft facility enables the current account holders to withdraw amount over and above their actual balance in the account. This facility helps the businessmen to serve transaction purpose or meet their working capital. Thus, overdraft facility is provided to current account holders.

Concept: Standard of Transfer Payment
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