A More Recent Product of Banks Is Checking Accounts That

question 136

True/False

A more recent product of banks is checking accounts that pay interest to depositors.

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Definitions:

Promoters

Individuals or companies that initiate the creation of a business or corporation, often handling the legal and logistic tasks of organization.

Preincorporation Share Subscription

An agreement by an investor to purchase shares in a corporation that is yet to be formed, often used to fund the creation of the new company.

Model Business Corporation Act

A set of model laws designed to standardize and simplify the legal structure of corporations across the United States.

Ratifies

The act of officially confirming or endorsing a decision, making it formally valid.