Money Held in Checking and Savings Accounts Are Called

question 30

Multiple Choice

Money held in checking and savings accounts are called:

• A)demand deposits.
• B)marketable securities.
• C)commercial papers.
• D)receivables.

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Definitions:

Foreign Exchange Loss

A decrease in domestic currency value resulting from transactions denominated in a foreign currency, often due to fluctuating exchange rates.

Ruble Receivable

An amount expected to be received denominated in Russian Rubles, typically from transactions or contracts.

Euro Payable

A liability or obligation denominated in euros payable to a creditor or supplier.

Foreign Currency

Currency used outside the issuing country, not the domestic currency of the company conducting the financial transactions.