Which term means to put money into an account?

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $9.99Unlock all

Prepare for the 6th Grade Financial Literacy Test. Utilize engaging activities, flashcards, and multiple choice questions with explanations. Enhance your financial literacy skills and ace your test with confidence!

Multiple Choice

Which term means to put money into an account?

Explanation:
Putting money into an account is called a deposit. A deposit adds funds to your account, increasing the amount you have (the balance). For example, depositing $25 today would raise your balance by $25. This is different from a withdrawal, which is taking money out and lowers your balance. A balance is how much money is currently in the account, and being overdrawn means you’ve taken out more than you have, resulting in a negative balance.

Putting money into an account is called a deposit. A deposit adds funds to your account, increasing the amount you have (the balance). For example, depositing $25 today would raise your balance by $25. This is different from a withdrawal, which is taking money out and lowers your balance. A balance is how much money is currently in the account, and being overdrawn means you’ve taken out more than you have, resulting in a negative balance.

More Multiple Choice Questions
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy