Which of the Following Accounts Are You LEAST Likely to Encounter

question 9

Multiple Choice

Which of the following accounts are you LEAST likely to encounter at a modern bank?

• A)checking account
• B)certificate of deposit
• C) money market account
• D) passbook savings account

---

Definitions:

Income Statement

A financial report showing a company's revenues, expenses, and profits over a specific period of time.

Balance Sheet

A balance sheet is a financial statement that presents the assets, liabilities, and shareholders' equity of a company at a specific point in time, offering a snapshot of its financial condition.

Statement of Stockholder's Equity

A financial document that shows changes in the equity section of a company's balance sheet, including retained earnings and issued shares.

Accounting Equation

The fundamental equation of double-entry bookkeeping: Assets = Liabilities + Owner's Equity.