Which of the Following Is a Time Deposit with a Fixed

question 282

Multiple Choice

Which of the following is a time deposit with a fixed maturity date offered by banks and other financial institutions?

• A) Savings deposit
• B) Money market deposit account
• C) Time deposit
• D) Small-denomination certificate of deposit

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Definitions:

Bond Interest

The periodic payment a bond issuer makes to bondholders for the use of borrowed funds, typically expressed as a fixed percentage of the principal.

Journal Entry

Journal Entry is a record in accounting that logs the debit and credit of a transaction in the general ledger, documenting financial transactions systematically.

Retirement

The period in life when an individual stops working on a full-time basis, typically supported by savings, pensions, or retirement plans.

Note Amortization Table

A schedule detailing each payment on an amortizing loan, including amounts allocated for principal and interest over a specified period.