Julia Opens a Checking Account with Washington Bank and Deposits

question 1

Multiple Choice

Julia opens a checking account with Washington Bank and deposits funds into the account.Julia and Washington Bank

• A)do not have a contractual relationship.
• B)have a creditor-debtor relationship in which Julia is the creditor and Washington Bank is the debtor.
• C)have a creditor-debtor relationship in which Washington Bank is the creditor and Julia bank is the debtor.
• D)do not have a creditor-debtor relationship.

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Definitions:

Collateral

An asset pledged as security for the repayment of a loan, forfeitable in case of default.