Amounts held on deposit in checking accounts are A) demand deposits. B) the M₂supply of money. C) time deposits. D) near-monies. E) transfer deposits.

Name: Amounts held on deposit in checking accounts are A) demand deposits. B) the M 2 supply of money. C) time deposits. D) near-monies. E) transfer deposits.
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Checking accounts are also known as demand deposits because the account holder can withdraw funds at any time on demand.

Amounts Held on Deposit in Checking Accounts Are