What Are the Types of Checking Accounts

question 19

Multiple Choice

What are the types of checking accounts?

• A)Basic checking and free checking
• B)New construction draw accounts
• C)Interest-bearing checking
• D)Basic,free,AND interest-bearing

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Definitions:

Consolidation

The act of combining multiple entities, assets, or processes into a single, more effective and efficient structure.

Liabilities

Financial obligations or debts that a company or individual owes, which are recorded on the balance sheet and must be settled over time.

Assets

Resources with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

Subsidiary Corporation

A corporation wholly owned by another corporation (the parent corporation).