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