GCECommerceBanking and Finance2021

Which of the following types of account would be MOST suitable for a businessman who makes frequent withdrawals and deposits daily?

AFixed deposit account
BSavings account
CCurrent accountCORRECT
DDomiciliary account
AI
Toaster Teacher
Why the answer is C, and why the others tempt you.
A current account is designed for frequent transactions and allows the account holder to make unlimited deposits and withdrawals. It comes with a cheque book facility and is ideal for business operations. A fixed deposit account locks funds for a specific period, while a savings account typically limits the number of withdrawals allowed within a given period.
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