INTRO TO BUSINESS CHAPTER 12 TEST

What is a system in which goods and services are directly exchanged using money?

• monetary system
• government
• banking system

What is a standard of value and a means of exchange or payment?

• money
• currency

What is a record of the amount of money a customer has deposited into or withdrawn from a bank?

• check register
• bank account 

What is the money put in a bank account?

• deposit
• withdrawal

What is money taken out of a bank account?

• cash
• deposit 
• withdrawal

Interest is the rate that the bank pays customers for keeping their money.

• true
• false

What allows money to be transferred from one bank account to another through a network of computers?

• Electronic Funds Transfer
• Direct Deposit

What is property or goods pledged by a borrower to use as security against a loan if it is not repaid?

• collateral
• security agreement

What is the electronic transfer of a payment directly from the payer's bank account to that of the party being paid?

• direct deposit
• EFT

What is a secure box in a bank's vault used for the safe storage or a customer's valuables?

• safe deposit box
• mail box