ECONOMICS (CBSE/UGC NET)

ECONOMICS

MONEY MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which type of bank account is most linked to spending?
A
Checking
B
Investment
C
Mutual Fund
D
Savings
Explanation: 

Detailed explanation-1: -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-2: -A basic checking account is generally the most common option you’ll find. With a basic checking account, you may be able to spend using a debit card, pay bills online or via paper check and transfer funds to or from linked accounts.

Detailed explanation-3: -While checking accounts are for spending, savings accounts are meant to keep money safe that you don’t immediately plan to spend.

Detailed explanation-4: -Traditional Checking Account. A traditional checking account, also referred to as a standard or basic checking account, offers the ability to write checks. Premium Checking Account. Interest-Bearing Checking Account. Rewards Checking Account. Student Checking Account. Second Chance Checking Account. 02-Mar-2023

Detailed explanation-5: -Traditional checking account. Student checking account. Senior checking account. Interest-bearing account. Business checking account. Checkless checking. Rewards checking. Private bank checking. More items •25-Aug-2022

There is 1 question to complete.