Transaction-Based Requirements
Transaction-Based Requirements
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1. Bank deposits and other liabilitiesUse the following categorization table to identify transaction and nontransaction accounts.Transaction Account Nontransaction AccountSavings, or Passbook AccountsCertificates of Deposit, CDMoney Market Deposit AccountsNOW AccountsDemand DepositsWhy and when were NOW accounts created?O In the 1970s as a way to get around restrictive banking regulationsO In the early 2000s so that households could tap into the rising value of their housesO In the 1980s as a wa
1. Bank deposits and other liabilitiesUse the following categor…
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