The correct answer is: A. Current account
A current account is a type of bank account that is used for day-to-day transactions. It is a basic account that offers a limited range of features and services. Current accounts typically have a low interest rate and a monthly fee.
If immediate payment is not made to a partner taking leave from the firm, then the due amount is transferred to the partner’s current account. This is because the current account is the most basic type of bank account and it is used for day-to-day transactions. The due amount can be used by the partner to cover their expenses while they are on leave.
The other options are incorrect because they are not types of bank accounts. A loan account is a type of bank account that is used to borrow money from a bank. A reserve account is a type of bank account that is used to hold money in reserve.
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