JAMB Economics 2021 Objective — Question 23
Question 23 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2021 Objective paper, with the correct answer and a full explanation.
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23. A saving account is also known as a. Demand deposit b. Current account c. Fixed account d. Life deposit
- A. Demand depositCorrect
- B. Current account
- C. Fixed account
- D. Life deposit
Explanation
A savings account is also called a demand deposit account because the account holder can demand (withdraw) their deposit at any time.
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