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A reserve account established for the sole purpose of repayment of company deposits is called:

Answer & Solution
Correct answer: A.
1. Rule 13 of the Deposit Rules requires a 'Deposit Repayment Reserve Account' to be maintained in a scheduled bank. 2. It is earmarked solely for the repayment of deposits. 3. Hence (B). _Source: ICAI BoS CA Inter Paper 2 — Acceptance of Deposits_
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