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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

Bank Account Basics

Choose a study mode

Podcast

Questions and Answers

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

What is recorded in a bank account?

Can a customer have more than one bank account?

What is reported to the customer on a bank statement?

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

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