1 true or false 1 point money in a checking account is called a demand deposit. true false 2 true or false 1…

1 true or false 1 point money in a checking account is called a demand deposit. true false 2 true or false 1 point a prepaid gift card is an example of a debit card. true false

1 true or false 1 point money in a checking account is called a demand deposit. true false 2 true or false 1 point a prepaid gift card is an example of a debit card. true false

Answer

Brief Explanations:

  1. A demand - deposit is a type of account from which funds can be withdrawn on demand without prior notice. Checking accounts allow customers to withdraw money at any time, so money in a checking account is a demand - deposit.
  2. A prepaid gift card is loaded with a specific amount of money in advance and is used to make purchases up to that amount. A debit card is linked to a bank account and withdraws funds directly from that account. They are different in nature.

Answer:

  1. True
  2. False