Checkable and Debitable Accounts in Commercial Banks and Other Financial

question 421

Multiple Choice

Checkable and debitable accounts in commercial banks and other financial institutions are classified as money because

• A) they are not liabilities of the banks.
• B) they sometimes earn an interest income for the depositor.
• C) they are generally acceptable in the payment of debt.
• D) banks hold currency in their vaults equal to the value of demand deposits.

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Definitions:

Years Old

A measurement of time that signifies the age of an individual or entity from their date of birth or inception, expressed in years.

Form

in art and design, refers to the visible shape or configuration of something, giving it structure and coherence.

Babbling

Intentional vocalization, often by an infant, that does not have a specific meaning.

Telegraphic

The use of short and precise words to communicate a message, similar to telegraph messages, often observed in the early speech of young children.