Chapter 4 Business Math

The process of adjusting the bank and checkbook balances to reflect the actual current balance of the checking account is called the bank statement ____________________.

• deposit

• check stub

• reconciliation

• register

An endorsement used when the payee wants to deposit a check into his or her account is called a(n) ____________________ endorsement.

• blank

• restrictive

• full

• third-party

____________________ banking is a faster and convenient alternative to traditional banking.

• Drive in

• Night deposit

• Online

• Bank by Mail

Tags

CCSS.7.RP.A.3

You write a check to cover a bill of $966.79. How would you write the word form of this amount on a check?

• nine hundred and 79/100

• nine hundred sixty-six, + 75 cents

• nine hundred sixty-six and 79/100

• nine hundred sixty-six and 75 cents

Tags

CCSS.4.NBT.A.2

CCSS.4.NF.C.6

What type of endorsement is illustrated by the following example:

Pay to the order of

Mike Lopez

Isis Love

1681-77-75-4

• Restrictive

• Full

• Blank

• Signature

For what purpose would a payee use an endorsement as shown in the following example:

For deposit only

P. J. Berry’s

6639-88-83-9

• when depositing a check into his or her account

• when paying with a check

• when transferring the check to a third party

• when cashing a check

The signature and instructions on the back of a check instructing the bank on what to do with that check is called a(n) ____________________.

• draft

• payee

• endorsement

• promise to pay

Deposits made which do not clear in time to appear on the current bank statement are called ______________________ .

• Confirmed deposits

• Deposits in Transit

• Outstanding Checks

• Interest Earned

Barry compares his Bank Statement to his Check Register. He sees that check # 5657 for $58.00 is in the Register but not on statement. What should he do?

• mark the check as confirmed and move to the next item

• enter the check in the Reconciliation's Outstanding Check section

• call the bank and report check fraud

• draw a line through it on the register and adjust the balance

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

A depositor is a person who deposits money into a checking account.​

• True

• False