My Cla l work Blackboard@Blackboa... Begin: Final Exam-17F.. Take Test: Final Ex

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My Cla l work Blackboard@Blackboa... Begin: Final Exam-17F.. Take Test: Final Exam QUESTION 6 A simple will is one that leaves everything to the spouse. True False QUESTION7 Demand deposits is another term for checking accounts. False QUESTION 8 Current liabilities are amounts that must be paid within a short period of time, usually less than a year -' True False QUESTION 9 The liquidity of a savings account refers to the rate of earning a person will receive. ' True False QUESTION 10 Credit is an arrangement to receive cash, goods, or services now and pay for them in the future. True ' False Click Save and Submit to save and submit. Click Save All Answers to save all answers.

Explanation / Answer

6) False A simple will is one that expresses your wishes with regards to your possesions in the unfortunate event of your demise.

7) True. Demand deposits are accounts from where you can withdraw without any loss/penalties. Both savings accounts and checking accounts are demand deposits.

8)True, Current liabilities are payable in short term generally a year or less.

9)False. Liquidity refers to easy accessibility of money in times of need. So a demand deposit account offers high liquidity whereas a term deposit account has low liquidity.

10) True . That is the correct definition of credit

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