Checking Account & Balancing a Check Register

Front

What is a withdrawal in the context of a checking account?

Back

A withdrawal is the act of taking money out of a checking account, often using a debit card or writing a check.

Front

What is a deposit in a checking account?

Back

A deposit is the act of adding money to a checking account, increasing the account balance.

Tags

CCSS.7.NS.A.1B

Front

What is a debit card?

Back

A debit card is a payment card that deducts money directly from a checking account to pay for purchases.

Front

What is direct deposit?

Back

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

Front

What is a check register?

Back

A check register is a record used to track all transactions in a checking account, including deposits, withdrawals, and fees.

Front

What is the purpose of balancing a check register?

Back

Balancing a check register ensures that the recorded transactions match the bank's records, helping to avoid overdrafts.

Front

What is a bank fee?

Back

A bank fee is a charge imposed by a bank for various services, such as account maintenance or overdrafts.

Tags

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3

CCSS.RI.7.5

Front

What is the significance of writing a signature on a check?

Back

A signature on a check authorizes the bank to release funds from the account to the payee.

Tags

CCSS.RI.5.3

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.5

Front

If Kayla had a balance of $106.15 and deposited $75.00, what is her new balance?

Back

$181.15

Tags

CCSS.6.NS.B.3

Front

Which of the following is NOT a feature of a checking account: debit card, bill pay, direct deposit, or lottery ticket?

Back

Lottery ticket is NOT a feature of a checking account.