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A standard monetary unit of measurement of the value of goods and services. Example: money
An Interest bearing account is a bank account in which, the banks pays you an interest for keeping your money deposited in that account. Ex: Savings Bank Account - You usually get around 3.5% rate of interest on the money you hold in your savings account in India.
money in a bank account, when u put money into an account it is called a deposit.
The best way to explain this is by example: Wells fargo Bank has your bank account. Your account is a liability for them since this is not truly their money and it is obligated to you the account holder......so when they increase your account, they post a credit to it. Because to increase their liabilities they have to credit it......and when you use your debit card and decrease your account then wells fargo debits your account to remove the money. For you as the account holder your checking account is your asset......so if you were tracking your accounting in a program.....and you wanted to show where you deposited money into your account in your system then you would post a debit to increase your cash account.
it is a credit. Depositing money into an account is putting money in.
A standard monetary unit of measurement of the value of goods and services. Example: money
jmm
The amount of money in a bank account never changes.
unit of account
Unit of Account
what they call money in that country for example: in Iran their money is called toman got it
An Interest bearing account is a bank account in which, the banks pays you an interest for keeping your money deposited in that account. Ex: Savings Bank Account - You usually get around 3.5% rate of interest on the money you hold in your savings account in India.
Money in a savings account is an example of a time deposit.
Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account.
Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account.
An example of a high money market account will have a high interest rate and presumably make a lot of money for the owner of the account. One bank which claims to offer high yield or high paying money market accounts is Ally Bank; another is Capital One.
A merchant account is an bank account used for transferring money, involving business transactions. For example, a merchant account can be linked with Paypal, which can be used on eBay for business.