Asked by gabriela huselton on May 18, 2024
Verified
Demand deposits are balances in bank accounts that depositors can access by writing a check or using a debit card.
Demand Deposits
Accounts held in banks that can be withdrawn at any time without any advance notice to the financial institution.
Debit Card
A payment card that deducts money directly from a consumer's checking account to pay for a purchase, rather than using a credit line.
- Familiarize yourself with the functions served by money, including its role as a unit of account, medium of exchange, and a means of value storage.
Verified Answer
EH
Eddie HernandezMay 19, 2024
Final Answer :
True
Explanation :
Demand deposits refer to the funds held in bank accounts from which money can be withdrawn at any time without any advance notice to the bank, typically accessible via checks, debit cards, or electronic transfers.
Learning Objectives
- Familiarize yourself with the functions served by money, including its role as a unit of account, medium of exchange, and a means of value storage.