BM_Chp_3.txt

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Author:
kseaman
ID:
52439
Filename:
BM_Chp_3.txt
Updated:
2010-12-03 11:59:30
Tags:
checking accounts
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Description:
Chapter 3 for Business Math
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  1. According to the picture item #1 is the_________?
    memo line
  2. According to the picture item #2 is the __________?
    Signature Line
  3. What special ink is used to print the numbers at the bottom of a check?
    MICR ink
  4. The legal amount of a check is:
    a. the written amount
    b. the numeric amount
    a. the numeric amount
  5. ATM stands for:
    Automated Teller Machine
  6. According to the picture item #3 is ___________?
    the check number
  7. According to the picture item #4 is ___________?
    the written amount of the check
  8. According to the picture item #5 is ___________?
    the financial institution's routing number
  9. According to the picture item #6 is ___________?
    the numerica amount of the check
  10. According to the picture item #7 is ___________?
    Who the check is made out to (person or business)
  11. According to the picture item #8 is ___________?
    the date the check was written
  12. How long is a check good for?
    six months
  13. According to the picture item #9 is ___________?
    the account number
  14. PIN stands for
    Personal Identificatin Number
  15. What is an outstanding check?
    a check that has not cleared your bank account
  16. What does EFT stand for?
    Electronic Funds Transfer
  17. A deposit is a:

    A. debit
    B. both
    C. balance
    D. credit
    D. credit
    (this multiple choice question has been scrambled)
  18. Define check register
    a ledger used to keep track of debit and credits

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