The balance in a banking customer's checkable deposit account is the amount the bank owes the customer.

Question

Quizplus · Accepted Answer

A checkable deposit account is a type of account that allows the account holder to make withdrawals by writing checks or using a debit card. The balance in this account represents the amount of money that the bank owes the customer, as it is the funds that the customer has deposited into the account. Therefore, the statement is true.

The Balance in a Banking Customer's Checkable Deposit Account Is