Trust Accounts Used for Holding Small Amounts of Client Funds

question 48

Short Answer

Trust accounts used for holding small amounts of client funds or that will be held for too short a period of time to generate income sufficient to allocate to the client is referred to as ____________________ accounts.

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Definitions:

Depression

A deep and prolonged business downturn; the last one occurred in the 1930s.

Velocity of Circulation

The rate at which money moves through the economy, from transactions of individuals and businesses.

Unemployment Rate

A measure of the percentage of the labor force that is jobless and actively looking for employment.

Expansionary Monetary Policy

A policy by central banks to increase the money supply and decrease interest rates to stimulate economic growth.