Financial and Legal Literacy, Module-1 - Practice Mode
1) All financial activity can be done through a ___?.
Correct Answer: Bank
Explanation:
Wrought Iron is the purest form of iron; although it may contain traces of carbon. It is usually made by ‘‘puddling process’’. It is very costly and its use has been almost totally replaced by cheaper steel. However, for some components like chain-links and Crane-hooks wrought iron is still the preferred raw material.
3) When a person deposits a fixed sum of money every over a fixed period of time, it is a _______ account.
Correct Answer: Recurring Deposit
4) Arya has joined a new company. They want him to open a ______so that they can credit his salary.
Correct Answer: Salary account
5) Avinash needs to know about his transactions from the last month. How can he get these details?
Correct Answer: Passbook