Question

Fixed Deposit A/c comes under ______ group.

Options

• Investments

• Current Liability

• Bank A/c

• Current Asset

Answer 1

Fixed Deposit A/c comes under Investments group.

Explanation:

In Tally, a Fixed Deposit (FD) account should be classified under the group Deposits (Asset). While sometimes placed under Investments, “Deposits (Asset)” is the most appropriate group for bank fixed deposits, as they are funds deposited for a fixed period.