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AssignmentMultiple Select

Understanding Checking and Debit Accounts

Question 1 • * HSA 26-27 Economics

Which transactions can increase the balance in a checking account? Check all that apply.

Answer
A
direct deposit of a paycheck
B
debit of $10
C
ATM withdrawal of $40
D
EFT from a different bank into the account
E
monthly bank fee of $5

Explanation

A direct deposit adds paycheck money to the checking account, so it increases the balance. An electronic funds transfer (EFT) from a different bank into the account also adds money. A debit, ATM withdrawal, and monthly bank fee each take money out, so they decrease the balance.

AI-written and checked against the verified answer.

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