What term means to move money from one account to another?

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Prepare for the 6th Grade Financial Literacy Test. Enhance your financial knowledge with engaging multiple-choice questions and detailed explanations. Set a strong foundation for your academic success and financial literacy journey!

Multiple Choice

What term means to move money from one account to another?

Explanation:
Moving money from one account to another is called a transfer. It describes the action of shifting funds from one place to another, such as moving money from checking to savings or sending money to someone else's account. The other terms don’t describe that action: a check register is simply a record of transactions you’ve made; online banking is the service that lets you view and manage accounts online; salary is the money you earn from work. So transfer is the best word for this idea.

Moving money from one account to another is called a transfer. It describes the action of shifting funds from one place to another, such as moving money from checking to savings or sending money to someone else's account. The other terms don’t describe that action: a check register is simply a record of transactions you’ve made; online banking is the service that lets you view and manage accounts online; salary is the money you earn from work. So transfer is the best word for this idea.

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