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:

Culturally Limited

A situation or condition where the applicability or relevance of something is confined or restricted to specific cultural contexts.

Cognitive Tasks

Activities or exercises designed to assess and measure mental processes such as memory, attention, perception, and problem-solving skills.

Piaget Overestimated

The argument that Jean Piaget, a Swiss psychologist known for his work on child development, overvalued the age at which certain cognitive abilities develop in children.

Responsible Stage

The stage where the major concerns of middle-aged adults relate to their personal situations, including protecting and nourishing their spouses, families, and careers.