Checkable deposits are classified as money because:

1 answer:

8 0

Checkable deposits are classified as money because , They can be readily used in purchasing goods and paying debts.Choice( A)

Explanation:

Any demand deposit account against which, one can write a check or a draft is called checkable deposit. It is mainly used when a person has to withdraw money, at a short notice and he can do so, without giving any prior notice to the bank.

These deposits help in immediate access to cash. As these deposits are available easily , they are considered to be assets. .

Its an asset for the person who withdraws, as he can withdraw anytime without notice. It is a liability to the bank as the bank has to pay it, whenever the customer asks for it.

As these checkable deposits are easily available, they can be readily used in purchasing goods and paying debts.

You might be interested in

How do i get my grade higher.60-80 and 70-80

balu736 [363]

You can always makeup work that you got a low grade on. You can do extra credit or finish the work you haven’t turned in (if you have anything) :)

8 0

3 years ago

Read 2 more answers

Of the 141 companies on the list, jason chose to survey only 75 of them. he sent surveys to both small as well as large companie

Oduvanchick [21]

Because he divided the population into smaller groups and then randomly sampled each group, he would be using a stratified random sampling procedure.

4 0

3 years ago

If import restrictions prohibit foreigners from selling various goods and services in the U.S. market,

Vesnalui [34]

Answer:

The correct answer is option b.

Explanation:

When foreign producers sell their goods and services in the US market they get US dollars in return. They use these dollars to buy goods and services from the US.

If import restrictions prohibit foreigners from selling various goods and services in the U.S. market, foreigners will have fewer U.S. dollars which they can spend to buy U.S. goods and services. So they will be able to purchase fewer goods and services from the US.

4 0

3 years ago

Why is it important to empathize with your user?

fredd [130]

Answer:

Empathy is important because it awakens our senses as designers.

7 0

3 years ago

During 2015, Wright Company sells 470 remote-control airplanes for $110 each. The company has the following inventory purchase t

Kaylis [27]

Answer:

Cost of Good Sold Using Fifo $40,570

Ending inventory using Fifo $3,600

Ending inventory Using Specific Identification can not be calculated as the total sales (555) exceeds the available inventory (510)

Explanation:

8 0

3 years ago