Which of the Following Is Among the Four Categories Accounting

question 70

Multiple Choice

Which of the following is among the four categories accounting for almost three-quarters of consumer spending?

• A)Personal insurance and pensions
• B)Clothing
• C)Utilities
• D)Entertainment
• E)Medical

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Definitions:

Payee

The party in a financial transaction who receives payment.

Certificate Of Deposit

A savings certificate entitling the bearer to receive interest, representing a time deposit with a bank or financial institution that has a fixed maturity date.

Time Deposit

A bank deposit with a fixed term or period of maturity, often offering higher interest rates than regular savings accounts.

Maturity

The time at which a financial obligation is due to be paid or a financial instrument, such as a bond, reaches its final installment.