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Match each term with its definition. -Type of check in which the purchaser pays the bank the full amount of the check


A) ABA number
B) agent
C) ATM
D) bank statement
E) cashier's check
F) certified check
G) check register
H) checking account
I) currency
J) deposit

K) E) and I)
L) B) and G)

Correct Answer

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verified

Match each term with its definition. -Negotiable instrument often used by individuals who do not have checking accounts or to meet the requirement for purchasing an item or service


A) deposit record
B) deposit slip
C) electronic funds transfer system
D) endorsement
E) endorser
F) third-party check
G) limited check
H) maker
I) MICR numbers
J) money order

K) A) and J)
L) A) and E)

Correct Answer

verifed

verified

The process of verifying that the amounts on the bank statement are consistent with the amounts in the check register is known as:


A) reconciling
B) capitalizing
C) transferring
D) itemizing

E) All of the above
F) C) and D)

Correct Answer

verifed

verified

A ____ check is a check presented too long after it was written to be honored by the bank.


A) stale
B) traveler's
C) postdated
D) voucher

E) B) and D)
F) All of the above

Correct Answer

verifed

verified

A bank statement obtained through an ATM usually contains the last _____ transactions made on an account.


A) 5
B) 10
C) 15
D) 20

E) A) and C)
F) B) and D)

Correct Answer

verifed

verified

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