A Sweep Account Is a Checking Account That ________

question 86

Multiple Choice

A sweep account is a checking account that ________.

• A)bears interest, allowing depositors to write checks without tying up money for a specific period of time
• B)never has funds as they are drawn from a master account
• C)automatically moves all funds in a company's checking account above a predetermined minimum into an interest-bearing account
• D)need to be reviewed and updated on a regular basis

---

Definitions:

Demographics

Statistical data relating to the population and particular groups within it, often used for identifying marketing targets.

Direct Order

A method of purchasing where buyers directly contact the suppliers to place an order, eliminating intermediaries.

Prospective Buyer

An individual or business showing interest in purchasing a product or service but has yet to make a transaction.

Transaction

An exchange or transfer of goods, services, or funds between two or more parties, typically involving a payment from the buyer to the seller.