Demand Deposits Are Balances in Bank Accounts That Depositors Can

question 140

True/False

Demand deposits are balances in bank accounts that depositors can access by writing a check or using a debit card.

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Definitions:

Indirect Method

Refers to a way of creating the statement of cash flows where net income is adjusted for non-cash transactions, expenses, and changes in working capital.

Merchandise

Goods bought and sold in the course of business, typically in a retail environment.

Merchandise

Goods or products that are bought and sold in retail or wholesale markets.

Carrying Value

The book value of assets and liabilities on a company's balance sheet, calculated as the original cost minus accumulated depreciation or amortization.