Only a Bank May Serve as the Maker of a Certificate

question 46

True/False

Only a bank may serve as the maker of a certificate of a deposit.

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Definitions:

GST/HST

Stands for Goods and Services Tax/Harmonized Sales Tax; a value-added tax levied on most goods and services sold for domestic consumption in Canada.

Car Operating Costs

Expenses associated with the use of a car, including fuel, maintenance, insurance, and depreciation.

Tax Reforms

Changes made to tax policies or systems, often aimed at simplifying the tax process, reducing rates, or adjusting tax laws to encourage economic growth or fairness.

Benefits Packages

A collection of non-wage compensations provided to employees in addition to their normal wages or salaries.