A ________ Is a Checking Account That Technically Never Has

question 27

Multiple Choice

A ________ is a checking account that technically never has funds in it but is tied to another master account like payroll.

• A)cash account
• B)money market account
• C)zero balance account
• D)sweep account

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Definitions:

Receivables

Amounts owed to a business by its customers for goods or services delivered but not yet paid for.

Expenditures

The flow of cash or cash-equivalent amounts paid out by a company to meet obligations or purchase goods and services.

Bank Statement

A monthly summary provided by a bank, detailing all transactions that have occurred in an account.

Adjusted Cash Balance

A cash balance figure that has been adjusted for checks or deposits in transit, presenting a more accurate financial position.