Bank Account Basics
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Questions and Answers

Which one of these is NOT a commonly understood type of bank account?

  • Deposit account
  • Savings account (correct)
  • Credit card account
  • Loan account

    • What is recorded in a bank account?

  • Financial transactions between the bank and a customer (correct)
  • Terms and conditions set by the financial institution
  • Customer's personal information
  • Bank's profit and loss

    • Can a customer have more than one bank account?

  • Yes, but only if they have a good credit score
  • No, customers are only allowed to have one bank account
  • Yes, a customer can have multiple bank accounts (correct)
  • Yes, but only if they are a business owner

    • What is reported to the customer on a bank statement?

    <p>The balance of the account</p> Signup and view all the answers

    What are funds entrusted by the customer to the financial institution called?

    <p>Deposits</p> Signup and view all the answers

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