Answer:
they can be readily used in purchasing goods and paying debts.
Explanation:
In Financial accounting, checkable deposits can be defined as funds or financial statement held at any depository financial institutions such as a bank, which serves as a means for individuals or group of people to quickly access their accounts through written drafts or checks.
Checkable deposits are classified as money because they can be readily used in purchasing goods and paying debts. Also, checkable deposits are classified as money because they are very liquid asset which avails individuals access to funds and as such can be used in purchasing goods and paying debts.
