Which of the following are transaction deposits?

Question

Quizplus · Accepted Answer

Checkable deposits are also known as demand deposits and are considered transaction deposits since they can be used to make transactions such as writing checks or using a debit card. Savings accounts and certificates of deposit are not considered transaction deposits since they are not typically used for day-to-day transactions. Small-denomination time deposits are also not considered transaction deposits since they have a fixed term and penalties for early withdrawal.

Which of the Following Are Transaction Deposits