Beginning in 2010, the Amount Protected by the Federal Deposit

question 37

Multiple Choice

Beginning in 2010, the amount protected by the Federal Deposit Insurance Corporation in non-interest bearing checking accounts is

• A)zero.
• B)$100,000.
• C)unlimited.
• D)$250,000.

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Definitions:

Generating Revenues

The process of bringing in income from business activities, sales, or services offered.

Drawing Account

An account used to track withdrawals made by the owner from the business for personal use.

Normal Balance

The side of an account (debit or credit) where increases to the account are recorded, depending on the account's nature.

Debit

An entry on the left side of an account, indicating an increase in assets or expenses or a decrease in liabilities, equity, or income.