Another Name for a Savings Account Is A(n)

question 50

Multiple Choice

Another name for a savings account is a(n)

• A) interest deposit.
• B) term deposit.
• C) demand deposit.
• D) time deposit.
• E) certificate of deposit.

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Definitions:

Assignment

The transfer of rights, duties, or interests under a contract from one party to another.

Donee Beneficiary

A third party who benefits from a contract wherein the promisor agrees to give a gift or confer a benefit directly to the donee beneficiary.

Promisee

The individual or party to whom a promise or commitment is made within the context of a contract.

Promisor

An individual or entity that makes a promise or agreement to perform a particular action in a contract.