Question

Fixed Deposits are also called as:

• A. Accrued Deposits
• B. Time Deposits
• C. Recurring Deposits
• D. Demand Deposits

Hint:

Time deposits (like fixed deposits) have a fixed tenure, and the interest is paid based on the duration of the deposit.

Answer 1

The Correct Option is B

Step 1: Understand types of deposits.
- Fixed Deposits are also known as time deposits because the money is deposited for a fixed tenure, and interest is paid accordingly.