Multiple Choice
Which of the following is most likely to tempt individuals to spend impulsively or without prior planning?
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1. Introduction to Accounting
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Which service provided by a financial institution helps you track your money?
A
Issuing traveler's checks
B
Safe deposit box rental
C
Currency exchange services
D
Online banking with account statements
Verified step by step guidance1
Understand the context of the question: Financial institutions offer various services to help individuals manage and track their money effectively.
Identify the service that directly relates to tracking money. Services like issuing traveler's checks, safe deposit box rental, and currency exchange do not inherently provide tools for monitoring account balances or transactions.
Recognize that online banking with account statements is a service designed specifically to help users track their money. It provides access to transaction history, account balances, and other financial details in real-time.
Consider the benefits of online banking: It allows users to monitor their financial activities conveniently from anywhere, ensuring better control over their finances.
Conclude that online banking with account statements is the correct answer because it directly addresses the need to track money effectively.
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