Depository Bank Accounts Are an Efficient Way to Manage Cash

question 49

Multiple Choice

Depository bank accounts are an efficient way to manage cash since:

• A) the treasurer is the only person authorized to perform the bank reconciliation on this type of account.
• B) dual signatures are needed for all withdrawals.
• C) corporate headquarters can quickly transfer the money to the company's centralized account.
• D) the account earns a high rate of interest.

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Definitions:

Biological child

A child resulting from the genetic contribution of both parents, as opposed to adopted or step-children.

Stepchild

A child of one's spouse by another partner; does not biologically relate to the stepmother or stepfather but may be raised by them.

Complex stepfamily

A family structure that includes children from previous relationships of both partners, creating a network of relationships more complicated than those in simple stepfamilies.

Biological children

Offspring to whom one is genetically related, as opposed to children acquired through adoption or other means.