What is a deposit?

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Study for the Court Revenue Assistant Test. Utilize multiple choice questions with hints and explanations for thorough preparation. Be exam-ready confidently!

Multiple Choice

What is a deposit?

Explanation:
A deposit is the funds that are placed into an account. It’s the amount of money paid in, not the act of paying it in and not a withdrawal. For example, when you put $200 into your account, the $200 is the deposit and your balance increases by $200. The other options refer to things that aren’t money being placed into an account: an agreement to end a dispute, a withdrawal, or the action of depositing itself.

A deposit is the funds that are placed into an account. It’s the amount of money paid in, not the act of paying it in and not a withdrawal. For example, when you put $200 into your account, the $200 is the deposit and your balance increases by $200. The other options refer to things that aren’t money being placed into an account: an agreement to end a dispute, a withdrawal, or the action of depositing itself.

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