A Chequing Account for Which the Firm Maintains No Balance

question 135

Multiple Choice

A chequing account for which the firm maintains no balance, transferring in funds from a master account only when needed to cover demands for payment, is called a ____________.

• A) lockbox account
• B) cleanup account
• C) compensating balance account
• D) zero-balance account
• E) revolving account

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Definitions:

Agreeableness

A personality trait characterized by warmth, friendliness, and a tendency towards cooperation and social harmony.

Bipolar Disorder

A mental health condition characterized by extreme mood swings that include emotional highs (mania or hypomania) and lows (depression).

Neuroticism

A characteristic of personality marked by feelings of emotional unpredictability, nervousness, frequent mood changes, annoyance, and melancholy.

Self-Control

Self-Control is the ability to regulate one's emotions, thoughts, and behaviors in the face of temptations and impulses.