Which statement accurately describes a saving account?

The statement that a savings account typically earns interest with limited access to money accurately describes the nature of savings accounts. Savings accounts are primarily intended for individuals to save money while earning interest over time, usually at a lower rate compared to other investment vehicles. They provide a safe place for individuals to set aside funds for future use while still allowing for some degree of liquidity, although access to these funds may be more restricted than with checking accounts. Typically, savings accounts may limit the number of withdrawals or transfers you can make each month, thus encouraging saving rather than frequent spending.

In contrast, the other statements do not align with the characteristics of a savings account. Unlimited access to funds is more characteristic of checking accounts, while savings accounts are not designed primarily for daily transactions. Additionally, they are not specifically related to business expenses, as they cater primarily to personal savings for individuals.