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salantis [7]
3 years ago
9

Which of the following statements concerning a bank savings account is false? a. Deposits are insured for at least $100,000. b.

Your money will earn interest. c. You will pay a hefty fee for cashing or depositing your paycheck into a savings account. d. You can use an ATM or debit card with a savings account.
Business
1 answer:
cricket20 [7]3 years ago
6 0

Answer:

The correct answer is C

Explanation:

Savings account is the kind of deposit account which is held at the retail bank and that pays the interest but cannot be use directly as money is at the narrow sense of the medium of exchange.

This account help the customers or people to set aside the portion of their liquid assets when earning a monetary return. And this account does not charge any fee for depositing as well as cashing the paycheck into the saving account.

Therefore, the statement which is false is that the customer have to pay a fee for depositing or cashing.

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If a company uses $1,300 of its cash to purchase supplies, the effect on the accounting equation would be:
Over [174]

Answer:

no impact

Explanation:

The journal entry to purchase the supplies for cash

Supplies Dr $ 1,300  

   To Cash A/c  $ 1,300

(Being the purchase of supplies is recorded)

For recording this we debited the supplies as it increased the assets and credited the cash as it decreased the assets

Therefore there is no impact on the accounting equation

7 0
3 years ago
Brandon owes his brother $120. he has a stamp collection worth $1,250 and he has $300 in a bank account. he also has a skateboar
erastovalidia [21]

the correct answer would be d. the stamp collection, the bank account, and the skateboard.

8 0
3 years ago
Identify which type of sampling is​ used: random,​ systematic, convenience,​ stratified, or cluster. upper a radio station asks
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Convenience sampling is used, because the population is taken from a sample that easy to reach

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3 years ago
XYZ Development, Inc. leases commercial space to businesses. Most of the leases are long-term, from five to fifteen years in len
prisoha [69]

Answer:

B. Escalator Clause

Explanation:

An escalation clause is a clause in a lease or contract that guarantees a change in the agreement price once a particular factor beyond control of either party affecting the value has been determined. An important example of this is a contract that adjusts for inflation.

4 0
3 years ago
When comparing the GDP of different countries, two issues immediately arise - currency and population differences. How does one
kykrilka [37]

Answer: Currency is converted to common currency, GDP is divide by population and compare GDP per Capita

Explanation:

GDP is measured in a countries currency. When Comparing a GDP of one country to the GDP of another country currency is converted into a common currency. Currency can be converted using exchange rate. the GDP of one country will then be expressed in the currency of another country using the exchange rate.

Some countries have a high number of population than others, for example China has more people than Mexico. therefore measure GDP and The standard of living between countries GDP will need to be divided by population which will give us GDP per capita which measures the standard of living by showing the GDP per person

7 0
2 years ago
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