For efficiency of operations and better control over cash, a company should maintain only one bank account.

Question

Quizplus · Accepted Answer

Maintaining multiple bank accounts can provide benefits such as better cash management, separation of funds, and easier tracking of transactions. However, it also requires proper management and reconciliation to avoid errors and fraud. Ultimately, the decision to maintain one or multiple bank accounts depends on the specific needs and goals of the company.

For Efficiency of Operations and Better Control Over Cash, a Company