Chapter 29 Test Review - Vocab Question Preview (ID: 41807)
Banking-Vocab.
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A line of credit for overdrawn checks.
a) Debit card
b) Credit card
c) Overdraft protection
d) Direct deposit
Checks that have been cashed.
a) Outstanding checks
b) Canceled checks
c) Cashiers checks
d) Overdrawn checks
The signature of the payee on the back of the check.
a) Drawer
b) Signature card
c) Overdraft
d) Endorsement
Checks that have been written but have not yet been cashed.
a) Cashiers checks
b) Canceled checks
c) Outstanding checks
d) Cleared checks
A bank card that immediately takes money from a checking account when it is used.
a) Credit card
b) Debit card
c) Check
d) Direct debit
The result of writing checks for more money than the balance in an account.
a) Oustanding
b) Stop payment
c) Canceled checks
d) Overdrawn
A banking service that allows electronic transfers of payments directly from the payer's account to the account of the person being paid.
a) Overdraft protection
b) Direct deposit
c) Stop payment
d) Endorsement
An order for a bank not to cash a particular check.
a) Stop payment
b) Overdraft
c) Canceled check
d) Outstanding check
The process of seeing whether an account holder's records agree with the bank's records for the account.
a) Check register
b) Account statement
c) Bank reconciliation
d) Endorsement
The bank's record of all the transactions in a checking account.
a) Check register
b) Bank statement
c) Account reconciliaiton
d) Overdraft protection
A log in which an accoutn holder records checking account transactions is called a(n)
a) statement
b) journal
c) account reconciliation
d) check register
An endorsement is
a) the signature of the drawer on the front of the check
b) an affidavit verifying that the check won't bounce
c) signature of the payee on the back of a check
d) a statement from a third party abou tthe character of an account holder
A canceled check is
a) a check that the payer no longer wants in circulation
b) a check that the payee returned
c) the bank's attempt to close an account
d) proof that a check has been paid to the payee
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