ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A statement shows you all of the deposits and withdrawals from your account, and an agreement shows you the terms of the account, such as fee structure and minimum requirements
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A statement shows you the terms of the account, such as fee structure and minimum requirements, and an agreement shows you all of the deposits and withdrawals from your account
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A statement can be downloaded from your online banking account, while an agreement must be obtained in person at a bank branch
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A statement must be obtained in person at a bank branch, while an agreement can be downloaded from your online banking account
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Detailed explanation-1: -Earning interest is really the only difference between an interest-bearing and regular checking account, though an interest checking account may require a higher balance to avoid a monthly fee.
Detailed explanation-2: -A bank statement is also referred to as an account statement. It shows if the bank is accountable with an account holder’s money. Bank statements are a great tool to help account holders keep track of their money. They can help account holders track their finances, identify errors, and recognize spending habits.
Detailed explanation-3: -Checking account: A checking account offers easy access to your money for your daily transactional needs and helps keep your cash secure. Customers can typically use a debit card or checks to make purchases or pay bills. Accounts may have different options to help avoid the monthly service fee.
Detailed explanation-4: -As mentioned above, an operating account can be a checking account. However, it is typically designated for specific business activities, such as receiving payments from customers and sending payments to vendors or contractors.