Banking Awareness - Types Of Bank Accounts
In which type of joint account must all account holders sign together for every transaction?
In which type of joint account must all account holders sign together for every transaction?
easy Q11 of 15
Step-by-Step Solution
Step 1: Focus on the operation rule.
The question requires approval from all holders.Step 2: Match with joint account instruction.
In a Jointly operated account, all holders must sign.Final Answer:
Jointly → Option AQuick Check:
All signatures required = Jointly operated account ✅
Quick Trick: All must sign = Jointly.
Common Mistakes:
MISTAKES- Choosing Either or Survivor despite collective operation requirement.
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