Understanding Checking Accounts

Understanding Checking Accounts

Assessment

Flashcard

Mathematics

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

quiz-placeholder

15 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is a checking account?

Back

A checking account is a type of bank account that allows for deposits and withdrawals, providing easy access to funds for everyday transactions.

2.

FLASHCARD QUESTION

Front

What is a checking account debit?

Back

A checking account debit is a transaction that decreases the balance in the account, such as a withdrawal or a purchase.

3.

FLASHCARD QUESTION

Front

What is a checking account credit?

Back

A checking account credit is a transaction that increases the balance in the account, such as a deposit or a direct deposit.

4.

FLASHCARD QUESTION

Front

How do you calculate the total deposit in a checking account?

Back

To calculate the total deposit, add all deposits made to the account and subtract any cash taken out.

5.

FLASHCARD QUESTION

Front

If you have a balance of $500 and deposit $300, what is your new balance?

Back

$800

6.

FLASHCARD QUESTION

Front

What is a monthly service fee in a checking account?

Back

A monthly service fee is a charge by the bank for maintaining the checking account, which reduces the account balance.

7.

FLASHCARD QUESTION

Front

How does a direct deposit affect a checking account balance?

Back

A direct deposit increases the checking account balance by the amount of the deposit.

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?