Checking Accounts

Your checking account is reconciled when...

• When you've matched all your transactions with your bank statement

• When you've opened it and placed at least $100 in it

• The bank sends you your statement of reconciliation

• When you've completed the checkbook register

Which of the following is a secure way to ensure that a check can only be deposited into your account.

• Use a blank endorsement

• Write "For Deposit Only" on the back

• Write "Pay to the Order of" on the back

• Write Void on the check

In order to endorse a check for deposit what would you put on the back of the check?

• Date

• Memo

• Signature

• Amount of check

When writing a check for a payment of $52.10 which is the appropriate way to write out the payment amount on the check?

• fifty two and ------------ ten cents

• 52 dollars and 10 cents

• fifty two and ------------10/100

• 52 and 10 cents

All of the following are ways to get money from your checking account except?

• Writing a check

• Use the ATM

• Use your debit card

• Use your credit card

When you choose debit when paying for an item, where does the money come from?

• savings account

• store credit card

• checking account

• credit line account

Which of the following is used to keep track of all checking transactions?

• check register

• reconciliation sheet

• bank statement

• journal

Which of the following should be done when writing a check?

• Don't fill out the memo section

• Write Invalid on check if you make a mistake

• Use pencil in case you make a mistake

• Use blue or black ink

What happens if you try to cash a check without having enough funds in your account?

• The bank will call you and give you a week to add funds to your account

• Your account will be closed

• The bank will cover the cost until your balance is positive again

• The check will bounce and you will be charged a fee