Checking Accounts Were in Widespread Use as Early as the Year

question 7

Multiple Choice

Checking accounts were in widespread use as early as the year ____.

• A)1550
• B)1830
• C)1950
• D)1770

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Definitions:

Investing Activities

Transactions related to the acquisition or disposal of long-term assets and other investments not classified as cash equivalents.

Financing Activity

Refers to transactions and events that affect long-term liabilities and equity of a company, including securing loans and issuing shares.

Investing Activity

Financial actions related to the acquisition and disposal of long-term assets and other investments not considered as cash equivalents.

Mortgage Payable

A long-term liability representing the amount owed on a property mortgage, which is to be paid back over a period.