Joe Barnes Opened Up an Account at Community Credit Union

question 109

Multiple Choice

Joe Barnes opened up an account at Community Credit Union. He is allowed to write checks and earns interest as long as he keeps his account balance above $2,000. In all likelihood, he opened a

• A) certificate of deposit.
• B) savings account.
• C) mutual bank account.
• D) NOW account.
• E) certified account.

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Definitions:

Acquiring Companies

Companies that acquire control of other companies by buying a majority of their stocks or assets, effectively making them subsidiaries.

Issued Capital

The total value of a company’s shares that have been issued or sold to shareholders.

Net Assets

The total assets of a company minus its total liabilities, indicating the actual value of a company's equity.

Acquisition

An acquisition involves one company purchasing most or all of another company's shares or assets, effectively taking control over the acquired company.