When May an Automatically Renewable Time Deposit Account Be Considered

question 204

Multiple Choice

When may an automatically renewable time deposit account be considered for inclusion in the unclaimed property report?

• A) When a customer has corresponded with the bank but not made deposits to the account
• B) When a customer has shown interest in the account but not made deposits to the account
• C) When a customer does not instruct the bank in writing to roll over the account
• D) When the customer has not deposited or withdrawn funds from the account or another account at the same bank

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Definitions:

Terms of Sale

The conditions and stipulations under which a sale is conducted, including payment, delivery, and warranty details.

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output decreasing with increasing scale.

Natural Monopoly

A market condition where a single firm can supply a good or service to an entire market more efficiently than if there were multiple suppliers, due to high fixed or startup costs.

Investor Owned

Pertains to a business or entity that is privately owned by investors who seek to earn profits from the operation.