A bank that is authorized to accept deposits of amounts payable to the federal government is a:
A) Federal Reserve Bank.
B) Federal depository bank.
C) National bank.
D) FDIC insured bank.
E) Credit union.

Question

Quizplus · Accepted Answer

A federal depository bank is authorized to accept deposits of amounts payable to the federal government, such as taxes or customs fees. Other types of banks listed as choices may have different functions or purposes.

A Bank That Is Authorized to Accept Deposits of Amounts