In context with banking, the Average daily balance is a term related to
In context with banking, the Average daily balance is a term related to__:
[A]Fixed Deposits
[B]Loans
[C]Credit Cards
[D]Current and Saving Accounts
Current and Saving Accounts
The average balance in a deposit account, equals the sum of the daily account balances during an accounting period, usually a monthly or a quarterly cycle, divided by the number of days in the accounting period. Banks normally specify certain minimum average daily balance to be maintained in current and savings accounts.
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babitha
July 9, 2015 at 2:11 pmplz send
current affairs to the mail