(i) A fixed deposit account is in force for a specified period of time while savings account is a running account as minimum balance is maintained.
(ii) A fixed deposit account is for people with substantial amount of money while savings account is for small saves.
(iii) Fixed deposit account can be used as security for a bank overdraft while savings account cannot be used as security for a bank overdraft.
(iv) Larger amounts are needed to open a fixed deposit account while smaller amounts are required to open a savings account.
(v) For a fixed deposit account, money is not withdrawn before contract is over while for savings account, money can be withdrawn at an agreed interval.
maurice.mutuku answered the question on July 24, 2017 at 05:49
- In what ways may an efficient road transport promote trade within a country?(Solved)
Give ways in which an efficient road transport system may promote trade within a country.
Date posted: July 24, 2017. Answers (1)
- What are the differences between land and labour as factors of production?(Solved)
Distinguish between land and labour as factors of production.
Date posted: July 22, 2017. Answers (1)
- What circumstances make it necessary for insurance companies to re-insure?(Solved)
Give circumstances that make it necessary for insurance companies to re-insure.
Date posted: July 22, 2017. Answers (1)
- What challenges may be experienced by a new entrepreneur who is intending to start a business in Kenya?(Solved)
List the challenges that may be experienced by a new entrepreneur who is intending to start a business in Kenya.
Date posted: July 22, 2017. Answers (1)
- What channels can be used to distribute locally manufactured goods?(Solved)
Give channels that can be used to distribute locally manufactured goods.
Date posted: July 22, 2017. Answers (1)
- What are the emerging issues in office management?(Solved)
List the emerging issues in office management.
Date posted: July 22, 2017. Answers (1)
- What are the advantages of pipeline transport to the country?(Solved)
List the advantages of pipeline transport to the country.
Date posted: July 22, 2017. Answers (1)
- What are the advantages of using celebrities in product promotion?(Solved)
List the advantages of using celebrities in product promotion.
Date posted: July 22, 2017. Answers (1)
- What are the leakages in a circular flow of income?(Solved)
Give the leakages in a circular flow of income.
Date posted: July 22, 2017. Answers (1)
- In what ways can a legal-political environment impact negatively on entrepreneurs?(Solved)
Give ways in which a legal-political environment can impact negatively on entrepreneurs.
Date posted: July 22, 2017. Answers (1)
- What are the advantages of indirect tax?(Solved)
List the advantages of indirect tax.
Date posted: July 22, 2017. Answers (1)
- What is the difference between Double and co-insurance?(Solved)
Explain the difference between Double and co-insurance.
Date posted: July 21, 2017. Answers (1)
- Under what circumstances can a trader issue a credit note to a customer?(Solved)
List circumstances under which a trader can issue a credit note to a customer.
Date posted: July 21, 2017. Answers (1)
- In what ways can one convey verbal communication?(Solved)
Give ways through which one can convey verbal communication.
Date posted: July 21, 2017. Answers (1)
- In what ways can entrepreneurs observe ethics in the management of their business?(Solved)
Give ways in which entrepreneurs can observe ethics in the management of their business.
Date posted: July 21, 2017. Answers (1)
- What factors must a firm take into account when deciding on the product(s) to produce?(Solved)
Give factors that a firm must take into account when deciding on the product(s) to produce.
Date posted: July 21, 2017. Answers (1)
- What are the requirements for one to start a limited liability company as one of the forms of business units?(Solved)
List the requirements for one to start a limited liability company as one of the forms of business units.
Date posted: July 21, 2017. Answers (1)
- Why is food an important basic need?(Solved)
Give reasons why food is an important basic need.
Date posted: July 21, 2017. Answers (1)
- What is opportunity cost?(Solved)
Define opportunity cost.
Date posted: July 21, 2017. Answers (1)
- What is Scale of preference?(Solved)
Define Scale of preference.
Date posted: July 21, 2017. Answers (1)