Asked by Nguyên Tr?ng on Jul 27, 2024
Verified
A zero-balance account is funded on an as-needed basis only.
Zero-balance Account
A type of bank account that maintains a balance of zero by automatically transferring funds from a master account in an exact amount to cover checks presented.
As-needed Basis
A method or arrangement where resources are utilized or tasks are performed as and when required, rather than on a scheduled or continuous basis.
- Understand the objectives of cash management and the strategies for effective cash handling and investment.
Verified Answer
DG
Denaya GlantonAug 02, 2024
Final Answer :
True
Explanation :
A zero-balance account is indeed funded on an as-needed basis, where funds are transferred to it only when payments need to be made, maintaining a zero balance at other times.
Learning Objectives
- Understand the objectives of cash management and the strategies for effective cash handling and investment.