Checking Account & Balancing a Check Register

Front

What is a checking account?

Back

A checking account is a type of bank account that allows you to deposit money, withdraw funds, and write checks.

Front

What is a check register?

Back

A check register is a record of all transactions made in a checking account, including deposits, withdrawals, and checks written.

Front

What does it mean to balance a check register?

Back

Balancing a check register means ensuring that the total amount recorded in the register matches the bank statement.

Front

What is a withdrawal?

Back

A withdrawal is the act of taking money out of a bank account.

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

Front

What is a deposit?

Back

A deposit is the act of adding money to a bank account.

Front

What is an overdraft fee?

Back

An overdraft fee is a charge incurred when you withdraw more money than is available in your checking account.

Front

What should you do if you find an error in your check register?

Back

You should correct the error immediately and adjust your balance accordingly.

Front

What is a debit card?

Back

A debit card is a card that allows you to access funds in your checking account to make purchases or withdraw cash.

Front

What is direct deposit?

Back

Direct deposit is an electronic transfer of money into your bank account, often used for payroll.

Front

What is a check?

Back

A check is a written order directing a bank to pay a specific amount of money from your account to another person or entity.