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1. Bank deposits and other liabilities Use the following categorization table to identify transaction and nontransaction accounts Transaction Account Nontransaction Account NOW Accounts Certificates of Deposit, CD Demand Deposits Savings, or Passbook Accounts Money Market Deposit Accounts Mr. Lane had been a customer at the Worcester Five Cent Savings Dank in Massachusetts since 1957. In 1968, he s of the bank change to Consumers Savings Bank- What else did Mr. Lane discover about his bank at that time? aw the name O A new service that allows depositors to withdraw funds by telephone O A new type of a savings account that pay interest O The introduction of money market deposit accounts O A requirement to re- open saving accounts avery five years Solution.

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1. Bank deposits and other liabilities Use the following categorization table to identify transaction and nontransaction accounts Transaction Account Nontransaction Account NOW Accounts Certificates of Deposit, CD Demand Deposits Savings, or Passbook Accounts Money Market Deposit Accounts Mr. Lane had been a customer at the Worcester Five Cent Savings Dank in Massachusetts since 1957. In 1968, he s of the bank change to Consumers Savings Bank- What else did Mr. Lane discover about his bank at that time? aw the name O A new service that allows depositors to withdraw funds by telephone O A new type of a savings account that pay interest O The introduction of money market deposit accounts O A requirement to re- open saving accounts avery five years Solution

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