Banking Awareness - Types Of Bank Accounts
A joint account opened by business partners who want equal control over transactions should ideally be operated as:
A joint account opened by business partners who want equal control over transactions should ideally be operated as:
medium Q6 of 15
Step-by-Step Solution
Step 1: Identify the requirement.
Business partners want equal control.Step 2: Match with account type.
Jointly requires consent of all partners.Final Answer:
Jointly → Option AQuick Check:
Equal control = Jointly operated account ✅
Quick Trick: Business control parity = Jointly.
Common Mistakes:
- Choosing Anyone or Survivor which reduces mutual control.
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