Answered

  1. What does reconciling an account involve?

Achecking one's financial records against the bank’s

Bmaking sure a paycheck arrives on time

Ccalculating the interest owed on a savings account

Didentifying instances of identity theft



2.Which of these is a characteristic of certificates of deposit (CDs)?

AThey are always offered at variable rates.

BThey last for a set period of time.

CThey can be opened with any amount of money.

DThey allow access to the money without penalty.

Verified Answer :

1. The answer is "A. checking one's financial records against the bank’s".


Reconciling an account frequently implies demonstrating or reporting that a record balance is right. For instance, we accommodate the parity in the general record account Cash in Checking to the equalization appeared on the bank articulation. The goal is to report the right sum in the general record account Cash in Checking. You will regularly need to modify the general record account balance for things showing up on the bank explanation that were not entered in the general record account.  


2. The answer is "b. They last for a set period of time".


A certificate of deposit (CD) is a funds declaration with a settled development date and indicated settled financing cost that can be issued in any category beside least venture necessities. A CD confines access to the assets until the point that the development date of the venture. Certificates of deposit are for the most part issued by commercial banks and are protected by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per person.  

Answer:

A. checking one's financial records against the bank’s

Explanation:

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