Question

What information do we get from the bank passbook ?

• A. Account holder's details
• B. Description of transactions
• C. Account balance
• D. All of these

Hint:

Think of a passbook as a complete, running history of your bank account in paper form. It's designed to give you a full overview, so options that cover all aspects of the account are likely to be correct.

Answer 1

The Correct Option is D

Step 1: Understanding the Concept:
A bank passbook is a physical booklet provided by a bank to an account holder, which serves as a copy of the account's ledger. It is used to record all transactions that occur in the account.
Step 2: Detailed Explanation:
Let's analyze the information contained in a typical passbook:
(A) Account holder's details: The passbook includes the account holder's name, address, account number, and other identifying information like the customer ID and IFSC code of the branch.
(B) Description of transactions: It provides a chronological list of all deposits (credits) and withdrawals (debits), along with the date and often a brief description of each transaction (e.g., cheque number, ATM withdrawal, online transfer).
(C) Account balance: After each transaction, the passbook shows the updated account balance.
Since a passbook contains all of the above information, option (D) is the correct choice.
Step 3: Final Answer:
A bank passbook provides the account holder's details, a description of all transactions, and the current account balance.