Biztown Test Review

Front

Which of the following is an example of a financial institution? a credit card, a checking account, a bank, a safe deposit box

Back

a bank

Front

The amount you have left over from your paycheck after taxes and deductions are withheld is called....

Back

net pay

Front

When is the only time that you will sign a deposit ticket?

Back

when you fill in the less cash received section

Front

Which of the following is NOT a service offered by banks? savings accounts, safe deposit boxes, reimbursement of cash if lost, credit cards

Back

reimbursement of cash if lost

Front

What is the difference between a debit card and a credit card?

Back

A debit card is used when you can spend money and it comes automatically out of your bank account. A credit card is used when you can spend money but have to pay it back at the end of the month with interest.

Front

What does it mean if there is scarcity of an item?

Back

the item is unavailable

Front

You're at Target and see a new movie, a pair of shoes, and a bag of candy that you want to buy. You think the items total will be around $40.00. Before you go to the cash register to pay for your items, you must check your ______________.

Back

balance

Front

Where must you record all of your bank transactions?

Back

in the transaction register

Front

What is the definition of circular flow economy?

Back

A model of the movement of goods, services, resources, and money in an economy.

Front

What is it called when your place of business automatically puts your paycheck into your bank account?

Back

direct deposit