A Bank Account That Permits Direct Payment to a Third

question 132

Multiple Choice

A bank account that permits direct payment to a third party is a

• A)Savings account.
• B)Transactions account.
• C)Money market mutual fund.
• D)Traveler's check.

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Definitions:

Retirement

The period of one's life after leaving one's job and ceasing to work, typically due to age or health reasons, often supported by savings or pension.

Income

The financial return or compensation received by an individual or household from various sources like labour, investments, or business ventures.

Budget Constraints

A financial restriction that limits the amount of money that can be spent on different categories of goods and services.

Optimum

The most favorable condition or level for growth, reproduction, or success.