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Which of the following account types is considered a transaction account under the Expedited Funds Availability Act?

Checking or Share Draft Account


What type of account can be a transaction account?

A checking account


What is used to record a checking account transaction?

Check register


Which of the following is considered a transaction account?

equipment


A check register includes what information for checking account transactions?

Date of transaction


What is a debit to your checking account?

A Debit is a transaction wherein money is debited or withdrawn or taken out from your bank account. For Ex: You use your ATM card to withdraw money from an ATM, this transaction will be reflected as Debit in your account because you have taken money from your account


Is a checking account considered an asset or liability?

A checking account is considered an asset because it represents money that you own and can access.


Is your checking account considered an asset?

Yes, a checking account is considered an asset because it represents money that you own and can access.


Is a checking account considered an asset or a liability?

A checking account is considered an asset because it represents money that you own and can access easily.


What would you use to record your checking account transaction?

A Check stub or check book registry


Is checking account balance considered an asset?

Yes, a checking account balance is considered an asset because it represents the amount of money a person has available to use.


How can I track a credit card transaction?

You can track a credit card transaction by checking your online account, contacting your credit card company, or reviewing your monthly statement.

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