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Current Account |
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current account
Economics that part of the balance of payments composed of the balance of trade and the invisible balance Current Account a type of deposit operation in banks and savings banks. Deposits in current accounts are not time deposits; that is, the account holder can make deposits and withdrawals at any time. In the capitalist countries, current accounts for the most part hold the temporarily free capital and cash reserves of the capitalists. In the USSR, current accounts in banks may be opened by noneconomic institutions and enterprises, kolkhozes, and public organizations; current accounts in savings banks may also be opened by individuals. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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