Which of the Following Statements Regarding the Cost of a Checking

question 1

Multiple Choice

Which of the following statements regarding the cost of a checking account is true?

• A) Most banks and other depository institutions allow unlimited free check-writing privileges.
• B) Most banks charge a fee when a checking account balance drops below a required minimum.
• C) Most banks use the daily balance in an account to determine whether to levy a service charge.
• D) The average charge of a returned check is between $35 and $50.
• E) Most banks do not charge for using the automated teller machine (ATM) of another bank that is not a member of the same network.

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Definitions:

Poor

Individuals or groups lacking in financial resources or wealth, which affects their ability to access basic needs like food, shelter, and healthcare.

Holocaust

The genocide of approximately six million Jews during World War II by Nazi Germany, led by Adolf Hitler, as part of a systematic and state-planned program of extermination.

Zygmunt Bauman

A Polish sociologist known for his analyses of modernity, consumerism, and globalization, and his concept of "liquid modernity."

Modernization

The transition from traditional, rural, and agrarian societies to a secular, urban, industrial, and technological society.