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Question
State whether the following statement is true or false.
A private company can collect deposits from public.
Options
True
False
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Solution
False
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RELATED QUESTIONS
Answer in one sentence.
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Account which is used only for repaying deposits is called ______.
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Company issues advertisement to invite its members for subscribing to its deposits
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Company appoints Credit Rating Agency to protect the interest of Depositors.
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Charge on assets is created when company issues unsecured deposit.
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Secured Deposit
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Justify the following statement.
Company has to fulfill certain provisions related to issue of circular or advertisement.
Give one word or phrase for the following sentence:
Type of company that can accept deposits only from its members or directors.
