Which of the following are transaction deposits?
A) Savings accounts
B) Small-denomination time deposits
C) Negotiable order of withdraw accounts
D) Certificates of deposit

Question

Quizplus · Accepted Answer

Negotiable order of withdrawal (NOW) accounts are transaction deposits because they allow for unlimited transfers and withdrawals by means of negotiable checks or orders. Savings accounts, small-denomination time deposits, and certificates of deposit are all examples of non-transaction deposits because they have limitations on the amount and/or frequency of withdrawals.

Which of the Following Are Transaction Deposits