Answer to Question #260091 in Accounting for Another you

Question

• Write True if the statement is correct; False if otherwise.

1. The account holder may issue a bank check from a savings account.
2. The account holder may use the withdrawal slip to get money from the checking account.
3. Time deposits account are investment accounts in nature.
4. Time deposits has a fixed interest rate and fixed placement period.
5. Bank statement is a letter issued by the bank that certifies the existence of the bank account.

Answer 1

1. False
2. True
3. True
4. True
5. False