You Have $900 in Your Checking Account When Your ATM

question 7

Multiple Choice

You have $900 in your checking account when your ATM card and PIN are stolen.You could lose up to _____ if you notify your bank about the lost ATM card after 60 business days after your periodic statement is mailed.

• A)$0
• B)$50
• C)$450
• D)$500
• E)$900

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Definitions:

Legal Life

The duration for which an asset is protected or regulated by legal rights, often referring to intellectual property or contractual agreements.

Patent

An exclusive right granted for an invention, which provides the patent holder with protection for the invention from commercial exploitation by others.

Intangible Asset

An asset that lacks physical substance, such as patents, trademarks, goodwill, and copyrights, which can nonetheless provide economic benefits.

Oil Well

A drilling operation focused on extracting petroleum or natural gas from underground reservoirs, usually involving significant exploration and investment.