Justin Needs to Have Access to His Money in Five

question 70

Multiple Choice

Justin needs to have access to his money in five months. The best option for his savings is a

• A) Series EE bond.
• B) Money market account.
• C) Five-year certificate of deposit.
• D) Series I bond.
• E) Six-month certificate of deposit.

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Definitions:

Recorded

The act of entering financial transactions into the accounting records of a business.

Bill Paid

An event where an obligation, often recorded as an accounts payable, is settled by paying the outstanding amount.

Accounts Receivable

Customer indebtedness to a company for the provision of goods or services that remain unpaid.

Partial Payment

Partial payment is a payment that is made towards a debt or invoice that is less than the full amount due at the time of payment.