15. what should you do if you start with $1,000 in a checking account and spend $1,200?\n a. withdraw more…

15. what should you do if you start with $1,000 in a checking account and spend $1,200?\n a. withdraw more to balance the account\n b. cover the deficit to avoid overdraft fees\n c. nothing, as this is typical account activity\n d. close the account immediately

15. what should you do if you start with $1,000 in a checking account and spend $1,200?\n a. withdraw more to balance the account\n b. cover the deficit to avoid overdraft fees\n c. nothing, as this is typical account activity\n d. close the account immediately

Answer

Brief Explanations:

When you spend more than you have in a checking account ($1000 - $1200 = -$200 deficit), not covering the deficit can lead to overdraft fees. Withdrawing more would increase the negative balance. Doing nothing isn't typical as accounts shouldn't be overdrawn regularly. Closing the account immediately isn't the best first - step; covering the deficit is more practical.

Answer:

B. Cover the deficit to avoid overdraft fees