Chequing Account Balances That Are Linked to Debit Cards Are

question 60

Multiple Choice

Chequing account balances that are linked to debit cards are included in:

• A)M1.
• B)M2 only.
• C)both M1 and M2.
• D)neither M1 nor M2.

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Definitions:

Internal Control Policies

Procedures and protocols implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Sarbanes-Oxley Act

A U.S. law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures.

Harsh Penalties

Severe consequences or punishments imposed for violations of rules or laws.

Liquidity

The ease with which an asset can be converted into cash without affecting its market price.