Question

Which statements about deposits are true? Check all that apply.
Deposits increase the checking account balance.
A deposit is money that is subtracted from a bank account.
Deposited money can be transferred electronically from one bank to another.
You cannot make a deposit at an ATM.
You can deposit a greater amount than the balance in the account.

Answer 1

True:
- Deposits increase the checking account balance.
- Deposited money can be transferred electronically from one bank to another.
- You can deposit a greater amount than the balance in the account.

False:
- A deposit is money that is subtracted from a bank account. (That describes a withdrawal.)
- You cannot make a deposit at an ATM. (Most ATMs accept deposits.)