Xavier Deposited $75,000 in Various Individual Accounts at His Local

question 162

Multiple Choice

Xavier deposited $75,000 in various individual accounts at his local credit union. He and his wife also have a joint savings account worth $34,500. What portion of these deposits is insured?

• A) $0, because the NCUA does not insure individual credit union deposits.
• B) $73,220
• C) $100,000
• D) $109,500

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Definitions:

Cash Flow

The total interchange of cash and assets comparable to cash, circulating in and out of a commercial venture.

Creditors

Individuals or institutions that lend money or extend credit to others, expecting repayment.

Long-Term Debt

Borrowings and financial obligations lasting more than one year, used to finance a company’s operations or other long-term investments.

Operating Cash Flow

Cash generated by a company’s core business operations.