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Subjects>Business>Accounting

What is the difference between inactive accounts and dormant account?

RedhaAlmomengp4810 ∙

Lvl 1

∙ 10y ago

Updated: 9/28/2023

There is no different. An inactive account is a dormant account, meaning there has been no activity for a certain amount of time.

Wiki User

∙ 10y ago

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Difference between Inactive Account and dormant account?

If there are no transactions from last 6 months in a particular bank account it is called inactive account and the same continues for one year it called as dormant account

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There is a difference between an account assistant and an account' executive. The assistant is non-management and likely makes an hourly salary. An account executive is paid salary and would be over the assistant.

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There in no difference between an accounts officer and an accountant other than the job level. They both provide account management services.

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The difference between an NRE and NRO account is that with an NRE account, you can't transfer money any way other than remittance from abroad. With NRO accounts, money is freely transferable.

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