Walter Johnson Has Two Accounts at First National Bank

question 32

Multiple Choice

Walter Johnson has two accounts at First National Bank. His savings account was opened in 1975, and his money market savings account was opened in 1985.He has never supplied a TIN number to the bank. What must First National Bank do?

• A) Withhold 28 percent of the payments on each of the accounts
• B) Withhold 28 percent of the payments on each account and annually request a TIN on the savings account
• C) Annually request a TIN on both accounts
• D) Refuse to open future accounts without a TIN

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Definitions:

River

A significant stream of water that moves through a natural channel, heading towards the sea, a lake, or joining another stream.

Breccia

A rock composed of broken fragments of minerals or rock cemented together by a fine-grained matrix that can be similar or different in composition to the fragments.

Braided River

A river that consists of a network of small channels separated by small and often temporary islands called braid bars.

Debris Flow

Downhill-flowing slurries of loose rock, mud, and other materials, and the resulting landform and sedimentary deposit; sometimes called a mudflow.