Checking account
Flashcard
•
Mathematics
•
6th Grade
•
Hard
+9
Standards-aligned
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15 questions
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1.
FLASHCARD QUESTION
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 to pay for goods and services.
2.
FLASHCARD QUESTION
Front
What happens when you write a check?
Back
When you write a check, you are instructing your bank to pay a specific amount of money from your checking account to the person or business named on the check.
Tags
CCSS.RI.5.3
CCSS.RI.6.3
CCSS.RI.6.5
CCSS.RI.7.3
CCSS.RI.7.5
3.
FLASHCARD QUESTION
Front
What does it mean to overdraw an account?
Back
To overdraw an account means to withdraw more money than is available in the account, resulting in a negative balance.
4.
FLASHCARD QUESTION
Front
What is an ATM fee?
Back
An ATM fee is a charge that banks may impose for using an Automated Teller Machine (ATM) to withdraw cash or perform other transactions.
5.
FLASHCARD QUESTION
Front
How do you calculate the balance in a checking account?
Back
To calculate the balance, start with the initial amount, add any deposits, and subtract any withdrawals or fees.
Tags
CCSS.6.NS.B.3
6.
FLASHCARD QUESTION
Front
What is a bank fee?
Back
A bank fee is a charge imposed by a bank for various services, such as maintaining an account, using an ATM, or overdrawing an account.
Tags
CCSS.RI.5.3
CCSS.RI.6.3
CCSS.RI.6.5
CCSS.RI.7.3
CCSS.RI.7.5
7.
FLASHCARD QUESTION
Front
What is a deposit?
Back
A deposit is money added to a bank account, increasing the account balance.
Tags
CCSS.RI.5.3
CCSS.RI.5.5
CCSS.RI.6.3
CCSS.RI.6.5
CCSS.RI.7.3
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