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Bank And Income Statements
Test Description: Personal Finance
Instructions: Answer all questions to get your test result.
1) What are the most common transactions that appear on a bank statement?
A
Interest Rates
B
Debts
C
Deposits and Withdrawls
D
Income
2) A statement that compares revenues to expenses and presents the net income (or loss) from a period of time.
A
Direct Deposit
B
Paycheck
C
Bill
D
Income statement
3) What is a balance sheet?
A
Statement that balances assets to liabilities and equity
B
Direct Deposit Statement
C
List of outstanding debts
D
Income Statement
4) A budget is an Emergency Fund
A
False
B
True
5) The account holder's Social Security Number will appear on their bank statement.
A
True
B
Only the last 4 digits
C
Only if the opt it to
D
False
6) The money subtracted from an account is a ________.
A
Transfer
B
Deposit
C
Reconciliation
D
Withdrawl
7) Money moved from one account to another is called...
A
Transfer
B
Reconciliation
C
Deposit
D
Withdrawl
8) a statement that balances assets to liabilities and equity.
A
Deposit
B
Withdrawl
C
Transfer
D
Reconciliation
9) Anything of value owned by a company or corporation is an _____.
A
Asset
B
Liability
C
Balance Sheet
D
Good
10) After you withdraw from your account,
A
There is less money.
B
There is the same amount of money.
C
There is more money.
D
The account is closed.
*select an answer for all questions
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