Financial Records

Which of the following described a bank statement?

• It is a summary of all deposits made each month.

• it is a summary of all the withdraws made each month.

• It is a summary of the interest earned each month

• All of the above

Angie's balance forward is $217.58. Her checking account registrar shows payments of $25.00, $10.57, and $49.67. It also shows one deposit of $50.00. What is the total amount of money in her bank account?

• $132.34

• $182.34

• $50.00

• None of the above

When you make a deposit or put money into your savings account, you ______________ the amount of money in your register.

• multiply

• divide

• add

• subtract

Which of the following is a summary of all the deposits and withdraws as well as any interest earned on a bank account?

• bank transaction

• bank book

• bank account

• bank statement

Susanna's balance forward is $117.58. Her checking account register shows payments of $15.00, $8.57, and $49.67. It also shows one deposit of $30.00. What is the total amount of money that she has in her bank account?

• $117.58

• $44.34

• $74.34

• $30.00

When you make a deposit or put money into a bank account, what happens to the amount in your register?

• The amount increases

• The amount decreases

• There is no change

• None of the above

Which of the following describes the function of an account register?

• It will help keep track of withdraws

• It will help keep track of interest earned

• It will help keep track of deposits.

• All of the above

Why is it important to create a budget and keep track of your spending throughout the month?

• So you know if you can afford to buy a new puppy

• So you ensure you do not spend more money than you take in each month

• So that you can track how much money you make

• So that you know when you can go on vacation

An account ___________________________ is a way to keep track of spending and saving.

• register

• deposit

• withdraw

• booklet

When you take money out of your account, how is the money recorded in your register?

• The amount is added to the balance.

• The amount is equal to the balance.

• The money taken out has no effect on the account balance for a few days.

• The amount is subtracted from the balance.