Question

True or False: An interest-bearing account is an account that generates interest income on the available balance in the account. → False

Answer 1

False

Step-by-step explanation:

Interest Bearing Account is an account which generates interest income over a specified period of time. Certificate of Deposit is an example for the interest bearing account. So, simply saying that An interest-bearing account is an account that generates interest income on the available balance in the account is wrong.