Trading Account: Meaning/Definition - SS1 Accounting Past Questions and Answers - page 1
What is a trading account?
A type of financial account used to buy and sell financial instruments
A type of savings account used to save money for retirement
A type of checking account used for everyday expenses
A type of credit account used to borrow money for purchases
Who typically maintains a trading account?
Traders
Government agencies
Retail stores
Hospitals
What kind of financial instruments can be traded in a trading account?
Stocks, bonds, currencies, and commodities
Real estate, cars, and jewellery
Furniture, clothing, and electronics
Food, drinks, and groceries
What fees are charged for maintaining a trading account?
Fees charged by brokerage firms or financial institutions
Fees charged by government agencies
Fees charged by retail stores
Fees charged by hospitals
Who uses a trading account?
What is the purpose of a trading account?