A Special Bank Account Used Solely for the Purpose of Paying

question 23

Multiple Choice

A special bank account used solely for the purpose of paying employees,is created by depositing the amount of each employees' net pay into the account every pay period.This account is referred to as a(n) :

• A)Federal depository bank account
• B)Employee's Individual Earnings account
• C)Employees' bank account
• D)Payroll register account
• E)Payroll bank account

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Definitions:

Mortgage Loans

Loans secured by real property through the use of a mortgage note, typically used to purchase real estate.

Moderate Incomes

Earnings that are neither too high nor too low, often associated with the middle class in a given society.

Interest Rates

The cost of borrowing money or the return for investing, expressed as a percentage of the principal, influencing consumer and business spending.

Interest-sensitive Goods

Products or services whose demand is heavily influenced by changes in interest rates, such as housing and automobiles.