A personal chequing account represents demand deposits because the bank must pay "on demand" to the person receiving the cheque.

Name: A personal chequing account represents demand deposits because the bank must pay "on demand" to the person receiving the cheque.
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Quizplus · Accepted Answer

This is because the money can be withdrawn at any time by the account holder through cheques or other means. Therefore, the bank must be ready to pay the demand deposit amount whenever the account holder wants to withdraw it.

A Personal Chequing Account Represents Demand Deposits Because the Bank