Sweep account refers to: a. an account that sweeps cash from checking to personal savings. b....
Sweep account refers to:
| a. |
an account that sweeps cash from checking to personal savings. |
|
| b. |
an account that sweeps zero balance account to an interest bearing account. |
|
| c. |
an account that allows the small business owner to sweep funds between personal and business accounts. |
|
| d. |
All of these |
Homework Answers
SWEEP account is a banking arrangement in which a checking account balance above or below a certain amount is automatically transferred to and from an interest bearing ( saving or money market fund ) account. The objective of a sweep account is to maximize accountholder's interest earning while covering all withdrawals .
Therefore , correct answer would be "a. an account that sweeps cash from checking to personal savings"
Add Answer to:
Sweep account refers to:
a.
an account that sweeps cash from checking to personal
savings.
b....
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t. Vocabulary-Cash and savings What Does It Mean? Match the terms associated with managing your cesh and savings accounts on the left with the descriptions of the terms on the right. Read each description carefully and type the letter of the description in the Answer collumn next to the correct term. These are not necessarily definitions, but there is only one correct answer for each term. Term Answer Description Compound InterestA A. This is the name given to the interest...
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Lori's Company has the following items: cash in a checking account, $4,000; cash in a savings account, $6,000; high- grade govemment securities due in one month (purchased last month), S3,526; accounts receivable, $3,000. How much should appear as Cash and Cash Equivalents on the balance sheet? OA, $13,526 OB. S6.000 oc· $16,726 OD, $16,526 Payment by check is an important internal control because: O A. O B. O C. the check provides a record of the payment. the check must...
If Mrs. Ethridge moves $3,000 from her savings account into her checking account: M1 stays the same, M2 decreases, and the system becomes less liquid. Ml increases, M2 decreases, and the system becomes more liquid. M1 increases, M2 stays the same, and the system becomes more liquid. Mlincreases, M2 increases, and the system becomes less liquid. M2 includes M1 plus all of the following except: savings deposits. money market accounts. U.S. Treasury Bonds small-denomination time deposits. Reserve requirement on commercial...
4. Interest-paying checking accounts - Their features and uses What Are Interest-Paying Checking Accounts and How Do They Work? Most interest-paying checking accounts exhibit characteristics of both checking and savings accounts. Specifically, they earn relatively high rates of interest, especially compared with regular savings accounts, and allow relatively limited check-writing privileges. They are available through depository and nondepository institutions, including commercial banks, savings banks, credit unions, stock brokerage firms, mutual funds, and other financial services companies. What are some of...
Bike is not wanted. Sell it and deposit cash in checking.
$1400
Start a savings account for a house $250 a month.
Sell the watch and deposit cash in checking.
Make extra payment of $200 a month on Camaro loan.
Add wifi to apartment. $90 a month.
Cut back $100 a month on fuel cost.
Use cash from sell of assets to cover deficit in budget until
car loan is paid off.
I provided the Cash Flow Statement numbers to...
C. Cash management, type 1. a. total expected cash receipts for the year ($2 million) b. the cost to transfer funds from the cash account to an interest-bearing account (520) c. the interest rate on the interest-bearing account (5.0%) 1. What must the cash balance reach before the company transfers funds to the interest bearing account if the company want to reduce the total costs associated with holding cash (that is, the total annual cost of transferring funds plus the...
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