Exchange Settlement Accounts (ESA)are Accounts Held by a Commercial Bank

question 18

True/False

Exchange settlement accounts (ESA)are accounts held by a commercial bank in another commercial bank.

---

Definitions:

Sole Proprietorship

A business owned and operated by a single individual, where there is no legal distinction between the owner and the business entity.

Stockholder

An individual or entity that owns shares in a corporation, thereby having a claim on part of its assets and earnings.

Indefinitely

For an unlimited or unspecified period of time, without a predetermined end point.

Accounting Process

A systematic series of steps involved in collecting, recording, summarizing, and presenting the financial transactions of a business.