Asked by Austin Bonney on May 05, 2024
Verified
Which of the following is not a type of savings account?
A) personal checking
B) money market
C) custodial account
D) regular/passbook
Personal Checking
A type of bank account that allows individuals to deposit, withdraw, and write checks against their balance for personal, not business, transactions.
Money Market
A section of the financial market where short-term financial instruments with high liquidity are traded.
- Comprehend the configuration and objectives of different documents and instruments related to checking accounts, including bank statements, cashier's checks, and certified checks.
Verified Answer
AB
Abigail BristowMay 07, 2024
Final Answer :
A
Explanation :
Personal checking accounts are designed for daily transactions rather than saving money, unlike the other options which are types of savings accounts.
Learning Objectives
- Comprehend the configuration and objectives of different documents and instruments related to checking accounts, including bank statements, cashier's checks, and certified checks.
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