Preston Never Opened His Bank Statements,so He Was Surprised to See

question 97

Multiple Choice

Preston never opened his bank statements,so he was surprised to see that he received a service charge that exceeded the interest he earned for the month.What kind of account does Preston have?

• A) A regular checking account.
• B) A activity account.
• C) An interest-earning checking account.
• D) All of these are correct.
• E) None of these is correct.

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Definitions:

Credit Column

A section in financial accounting records where increases in liabilities, revenues, and equity accounts, and decreases in assets and expenses are recorded.