Which of the Following Permit Deposits and Withdrawals to Be

question 56

Multiple Choice

Which of the following permit deposits and withdrawals to be made directly to a bank account through the use of magnetic tape?

• A) Brokerage firms
• B) Investment banks
• C) Online banking
• D) Automatic teller machines
• E) Automated clearinghouses

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Definitions:

Equity Method

An accounting technique used to record investments in other companies, where the investment is initially recorded at cost and subsequently adjusted to reflect the investor's share of the investee's profits or losses.

Investment Accounts

Accounts held at a financial institution that hold investments such as stocks, bonds, mutual funds, and ETFs, often for purposes of earning a return.

Trading Debt Securities

Securities bought and held primarily for sale in the near term to generate income on short-term price differences.

Fair Value

The estimated price at which an asset or liability could be traded in a fair transaction between willing parties.