Question

In a C program, how does one large chemical company pay its employees?

1) By direct deposit into their bank accounts
2) By issuing physical checks
3) By providing cash payments
4) By transferring funds to a digital wallet

Answer 1

Banks provide essential services that allow individuals and businesses to store and access their funds securely, offering flexible options such as direct deposits and checks for transactions.

Step-by-step explanation:

Banks play a crucial role in our complex economy by facilitating a wide range of transactions in the markets for goods, labor, and financial capital. Banking services provide individuals and businesses with options such as direct deposits, checks, and debit cards to access their funds which are stored in types of bank accounts like checking accounts or savings accounts. By using these banking methods, businesses can efficiently pay their employees through direct deposits into their bank accounts, issuing physical checks, or by other means, which helps to avoid the cumbersome and riskier process of handling large amounts of cash for every transaction. Bank accounts therefore provide a secure and flexible means for handling and accessing funds as needed for a business's operational requirements.