Future Business Leaders of America (FBLA) Agribusiness Practice Test

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What is the definition of a deposit in banking?

  1. To remove all your money from your bank account

  2. To place money in an account

  3. To open a new bank account

  4. To assess account profitability

The correct answer is: To place money in an account

A deposit in banking refers specifically to the act of placing money into a bank account. This action increases the account holder's balance and can take various forms, such as cash, checks, or electronic transfers. Deposits are fundamental to banking operations as they are the primary way customers add funds to their accounts, which can then be used for withdrawals, transactions, or investments. Depositing money is a critical concept in understanding how banking and finance operate, enabling individuals and businesses to manage their finances effectively. This is why this choice accurately defines the term 'deposit' in a banking context. The other choices involve actions related to banking but do not align with the specific meaning of making a deposit.

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