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BMGT FINAL EXAM 2025 QUESTIONS AND ANSWERS banker's acceptance - ....ANSWER ...-a promise that the bank will pay some specified amount at a particular time barter - ....ANSWER ...-The direct trading of goods or services for other goods or services. certificate of deposit (CD) - ....ANSWER ...-A time-deposit (savings) account that earns interest to be delivered at the end of the certificate's maturity date. commercial bank - ....ANSWER ...-A profit-seeking organization that receives deposits from individuals and corporations in the form of checking and savings accounts and then uses some of these funds to make loans. credit unions - ....ANSWER ...-Non profit , member-owned financial cooperatives that offer the full variety of banking services to their members. debit card - ....ANSWER ...-an electronic funds transfer tool that serves the same function as checks: it withdraws funds from a checking account demand deposit - ....ANSWER ...-The technical name for a checking account; the money in a demand deposit can be withdrawn anytime on demand from the depositor. discount rate - ....ANSWER ...-the interest rate the Fed charges on loans to member banks …FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 1