Checking Accounts Question Preview (ID: 31071)


Checking Accounts. TEACHERS: click here for quick copy question ID numbers.

Is the process of seeing whether an account holder’s records agree with the bank’s records for the account.
a) Endorsement
b) Bank Reconciliation
c) Bank Statement
d) Check Register

Is the financial institution where the drawer has an account.
a) Payee
b) Drawer
c) Drawee
d) None of the above

Is the signature of the payee on the back of the check.
a) Endorsement
b) Routing Number
c) Account Number
d) Bank Statement

Is proof that the money has been paid to a payee.
a) Endorsement
b) Check Register
c) Cancelled Checks
d) Bank Statement

Is the bank’s record of all the transactions in a checking account.
a) Outstanding Checks
b) Endorsement
c) Bank Reconciliation
d) Bank Statement

Is a party to whom the check is written.
a) Payee
b) Drawer
c) Drawee
d) None of the above

Is the party who wrote the check.
a) Payee
b) Drawer
c) Drawee
d) None of the above

Is a nine digit number used to identify a financial institution in a transaction.
a) Account Number
b) Routing Number
c) Bank Statement
d) Endorsement

Is a checkbook log in which an account holder records checking account transactions.
a) Endorsement
b) Bank Reconciliation
c) Bank Statement
d) Check Register

Three checking account types are Regular Checking accounts, Interest-bearing Accounts, and ______________.
a) Joint Accounts
b) Direct Deposit
c) Overdraft Protection
d) Stop Payment

Is an order for a bank no to cash a particular check. It usually requires a fee.
a) Debit Card
b) Overdrawn
c) Stop Payment
d) Direct Deposit

Means that the account owner has written checks for more money than the balance in the account.
a) Overdrawn
b) Check
c) Stop Payment
d) Interest-bearing Account

If you write a check for more than you have in the account, the bank will cover the check up to a certain amount.
a) Overdraft Protection
b) Direct Deposit
c) Interest-bearing Account
d) Signature Card

Is a bank card that immediately takes money from a checking account when it is used. It is used like a credit card.
a) Direct Deposit
b) Checking
c) Signature Card
d) Debit Card

Is a record of an account holder’s signature used to verify identity.
a) Direct Deposit
b) Checking
c) Signature Card
d) Debit Card

Is a written order directing a bank or other financial institution to pay money On demand to the person or company named on it.
a) Direct Deposit
b) Checking
c) Signature Card
d) Debit Card

Is a written order directing a bank or other financial institution to pay money on demand to the person or company named on it.
a) Direct Deposit
b) Checking
c) Signature Card
d) Debit Card

Are checks that have been written but have not yet been cashed.
a) Outstanding Checks
b) Bank Statement
c) Check Register
d) Endorsement

A check must have the following: Date, Signature, Payee's name, Matching numbers and written amounts.
a) True
b) False
c)
d)

If your balance differs from the bank's balance, you must reconcile your account.
a) True
b) False
c)
d)

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