A checkable and debitable account

Question

Quizplus · Accepted Answer

A checkable and debitable account is a type of account that enables the owner or holder to write checks against the available balance. Such accounts are usually held with financial institutions and offer ease of access to funds, making them a popular form of transactional account. Option A is incorrect since the account is still a financial asset, even if it is not as liquid as other forms of assets. Option C is incorrect since the account does not meet the criteria for trading on the stock exchange. Option D is also incorrect since the account can still serve as a store of value, although it is primarily designed for transactions.

A Checkable and Debitable Account