Business Accounts

Business Accounts

Professional Development

7 Qs

quiz-placeholder

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Business Accounts

Business Accounts

Assessment

Quiz

Life Skills

Professional Development

Hard

Created by

Justin Persick

FREE Resource

7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of business account allows for regular banking transactions such as deposits, withdrawls, and payments?
Business Savings Account
Business Checking Account
Business Money Market Account
Business Certificate of Deposit (CD)

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of a business savings account?
Accumulating surplus cash
Providing a safe place for short-term goals
Offering higher interest rates than regular savings accounts
All of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which business account offers higher interest rates than a regular business savings account and limited check writing or debit card capabilities?
Business Checking Account
Business Savings Account
Business Money Market Account
Business Certificate of Deposit (CD)

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a characteristic of a business certificate of deposit (CD)?
Fixed term and interest rate
Easy access to the deposited funds
No penalties for early withdrawals
Lower interest rates than regular savings accounts

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a business line of credit?
A business checking account with a credit feature
A type of business savings account with high interest rates
A predetermined amount of funds that can be borrowed as needed
A merchant services account for processing customer payments

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of a business merchant services account?
To accumulate surplus cash for short-term goals
To offer higher interest rates on deposited funds
To provide a safe place for emergency funds
To accept electronic payments from customers

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What types of business accounts provide funding for business expansion operations or specific projects?
Business Checking and Savings Accounts
Business Money Market Accounts
Business Merchant Services Accounts
Business Loans and Credit Accounts