Questions and Answers
What is a bank account?
A financial account maintained by a bank
What are the commonly understood types of accounts offered by financial institutions?
Deposit accounts, credit card accounts, current accounts, loan accounts
What happens to the funds deposited by a person in a bank?
They become the property of the bank
What is reported to the customer on a bank statement?
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What does a customer acquire against the bank when depositing funds?
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