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:

Name Recognition

The extent to which the public is able to identify a person, brand, or company simply from their name, often used in marketing and political campaigns.

Independent Expenditures

Political spending by individuals or organizations for or against political candidates or issues that is not coordinated with a candidate's campaign.

Supreme Court

The highest federal court in the United States, which has ultimate appellate jurisdiction over all federal and state court cases that involve a point of constitutional or federal law.