Question

What distinguishes bank deposits from company deposits in terms of guarantees?

a.

Bank deposits are guaranteed by companies.

b.

Both bank and company deposits are covered by guarantees.

c.

Bank deposits are guaranteed by the Deposit Insurance and Credit Guarantee Corporation, while company deposits are not.

d.

Company deposits are guaranteed by the Deposit Insurance and Credit Guarantee Corporation, while bank deposits are not.

Posted under IC 89 Management Accounting

Answer: (c).Bank deposits are guaranteed by the Deposit Insurance and Credit Guarantee Corporation, while company deposits are not. Explanation:Bank deposits are covered by a guarantee from the Deposit Insurance and Credit Guarantee Corporation (DICGC) of India, while company deposits are not subject to any such guarantee.

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