Saved Bookmarks
| 1. |
Why are the deposits in the bank accountcalled deposits? |
|
Answer» deposit means to place something . In a bank, we deposit MONEY in our account , the bank keeps the money safe for us. the money that we place in the bank in our account is called deposit, since we are placing it . for EXAMPLE, a worker may receive his/her salary at the end of the month. he/she cannot keep it for long in his/her hand and cannot use the whole money for paying expenses, hence, the PERSON will open a bank account and deposit his/her money there. the bank keeps the money safe there. |
|