Brent Had $450 in His Checking Account When His EFTS

question 1

Multiple Choice

Brent had $450 in his checking account when his EFTS card and PIN were stolen almost a week ago. Because he has been ill, he didn't report the theft until today, five days after the theft occurred. The delay in notifying the bank means that he could lose:

• A)$0.
• B)$25.
• C)$50.
• D)$500
• E)all the money in his account.

---

Definitions:

National Debt

The total amount of money that a country's government has borrowed and still owes.

Government Expenditures

Government expenditures are the total amount spent by public entities on goods, services, and obligations, influencing economic activity and fiscal policy.

Tax Receipts

The income generated for a government through taxation, which can include revenue from individuals, corporations, and other taxes.

Budget Deficit

A situation where a government's expenditures exceed its revenues, leading to the need for borrowing or using saved reserves.