Examlex
Which of the following represents the technical name for a checking account?
Liabilities
Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits including money, goods, or services.
Contingent Liabilities
Contingent liabilities are potential liabilities that may occur depending on the outcome of a future event.
Account
A record in bookkeeping that tracks financial transactions of a specific type, such as assets, liabilities, expenses, or revenue.
FUTA
The Federal Unemployment Tax Act, a United States federal law that imposes a payroll tax on businesses to fund state workforce agencies.
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