The German word "Bank" means
ABench or exchange table
BHeap of money
CMoney
DNone of these
Answer:
B. Heap of money
Read Explanation:
INTRODUCTION & EVOLUTION OF BANKING
- Bank is institution authorised to collect peoples' saving or deposits with the purpose of lending those under the condition of returning when the depositor demand.
- The term 'Bank' is derived from the Italian word 'Banco', French word "Banque', Latin word Bancus, all of these means "Bench or exchange table" (The Jews in Lombardy (Itali) having benches in the market place for the exchange of money and bills.)
- German word "Bank" means - heap of money or joint stock fund
- If a banker failed, his Banque (Bench) was broken up by the people hence the word in simple term has come - Bankrupt
- Bankrupt means - A person who lost all the money, Wealth or Financial Resources
- The origin of banking, in the modern sense, is traced to Italy.