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Questions and Answers
What does a passbook show in a savings account?
What does a passbook show in a savings account?
- Record of money deposited and withdrawn (correct)
- List of credit card transactions
- Interest earned and withholding taxes
- Bank reconciliation statement
Which type of bank account is primarily used for safekeeping money?
Which type of bank account is primarily used for safekeeping money?
- Credit card account
- Checking account
- Business account
- Savings account (correct)
What is the purpose of a checking account?
What is the purpose of a checking account?
- Recording business transactions (correct)
- Safekeeping money
- Withholding taxes
- Earning interest
Why do people use credit cards?
Why do people use credit cards?
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What are the two main reasons people deposit money in the bank?
What are the two main reasons people deposit money in the bank?
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