Multiple Choice
When creating a budget to repay your student loans, you should plan to pay back _____.
77
views
1. Introduction to Accounting
Useful Information
Struggling with Financial Accounting?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Which of the following is a way to withdraw money from your checking account?
A
Depositing cash
B
Earning interest
C
Writing a check
D
Receiving a direct deposit
Verified step by step guidance1
Understand the concept of a checking account: A checking account is a type of bank account that allows you to deposit and withdraw money easily for daily transactions.
Review the options provided in the problem: Depositing cash, earning interest, writing a check, and receiving a direct deposit.
Analyze each option: Depositing cash adds money to your account, earning interest increases your balance over time, and receiving a direct deposit also adds funds to your account. These are not methods of withdrawing money.
Focus on the correct option: Writing a check is a method of withdrawing money from your checking account because it authorizes the bank to transfer funds from your account to the payee.
Conclude that writing a check is the correct answer, as it directly involves withdrawing money from your checking account.
3:16mWatch next
Master Fundamental Qualitative Characteristics with a bite sized video explanation from Brian
Start learningRelated Videos
Related Practice
Useful Information practice set
Problem sets built by lead tutorsExpert video explanations