Deposits That Have Been Recorded on the Book, but Have

question 39

Multiple Choice

Deposits that have been recorded on the book, but have not yet been recorded by the bank are:

• A) nonsufficient funds deposits.
• B) outstanding deposits.
• C) deposits in transit.
• D) electronic funds deposits.

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Definitions:

Policy Loans

A loan made to a business by an insurance company, using the business’s insurance policy as collateral.

Cash Surrender Value

The amount of money an insurance policyholder can receive if they choose to terminate a policy before its maturity date.

Cash Surrender Value

Cash surrender value is the amount an insurance policyholder can receive if they decide to terminate the policy before its maturity or the insured event occurs.

Equity Funds

Mutual funds that primarily invest in company stocks, representing ownership in those companies.