Banking Pathway EOPA Study Guide

The balance according to the bank statement is $35,782. Outstanding checks total $19,573. Deposits in transit total $7,210. What is the adjusted bank balance?

• $8,999

• $19,383

• $23,419

• $62,565

An invoice dated on March 10 with the terms 3/60, n/90 means that a 3 percent discount will be given if the invoice is paid on or before…

• May 7

• May 8

• May 9

• May 10

What is a check that has not been returned for processing to the financial institution from where it originated?

• Oustanding

• Voided

• Cashed

• Authorized

The federal law that permits financial institutions to destroy original checks once a digital image has been created is the…

• Financial Record Destruction Act

• Security And Privacy For The 21st Century Act

• Customer Record Retention Act

• Check Clearing For The 21st Century Act

In order to estimate the likelihood that a borrower will repay a loan, banks use a borrower’s credit…

• Cards

• Limit

• Score

• Summary

Which of the following words is misspelled?

• Perpetuity

• Annuity

• Allocate

• Deversification

If total assets increased $35,000 during a period and total liabilities increased $14,000 during the same period, the amount and direction (increase or decrease) of the change in the owner’s equity for that period is…

• $21,000 increase

• $21,000 decrease

• $24,000 increase

• $24,000 decrease

A business owes Bob’s Office Supply Store $2,500 at the beginning of September. On September 15th, the business buys an additional $400 worth of merchandise on the credit card. On September 21st, the firm returns $275 of the merchandise. How much does the business owe Bob’s Office Supply Store on September 30th?

• $2,225

• $2,625

• $2,900

• $3,175

Which of the following sentences is grammatically correct?

• The accident victim was laying on the road until the ambulance arrived.

• We arrived their at 3pm to begin the meeting.

• The manager busted into the wrong office by mistake.

• Ann missed the meeting because she was lying in bed with the Flu.

The business cycle refers to…

• The repeated movement from good economic times to the bad and back.

• The inflation of prices over time.

• Shifts in business laws as the government changes from Republican to Democrat and back.

• Fluctuations in a company’s stock price throughout the year.