Deposit accounts whose principal function is to make payments for purchases of goods and services are called:
A)drafts.
B)second-party payments accounts.
C)thrift deposits.
D)transaction accounts.
E)None of the options is correct.

Question

Quizplus · Accepted Answer

Deposit accounts whose principal function is to make payments for purchases of goods and services are called transaction accounts. Examples of transaction accounts are checking accounts or demand deposit accounts.

Deposit Accounts Whose Principal Function Is to Make Payments for Purchases