Financial Statements and Recordkeeping

Which of the following is an interest-bearing deposit account held at a bach which provides a modest interest rate?

• Savings account

• Checking Account

• Money Market Account

• Certificate of Deposit

Which of the following is a type of savings account which usually earns a higher amount of interest than a basic savings account?

• Checking account

• Debit card

• Certificate of deposit

• Money market account

Which of the following is NOT usually included in a bank statement?

• Deposits

• Fees

• Withdrawals

• Social Security number

Which of the following is NOT considered a deposit?

• Check cashed

• Purchases

• Transfers received

• Direct deposit

Which of the following is NOT a step in reconciling a bank statement?

• Matching all checks listed in the bank statement to the check register

• Matching each of the deposits in the records to those noted on the bank statement

• Going through the miscellaneous accoun debits and credits listed on the bank statement

• Calling a banker to discuss deposits and withdrawals

Which of the following financial documents is recommeded to store permanently?

• Annual retirement statements

• Bank statements

• Reciepts for major purchases

• Deposits records

A personal financial statemet is also called which of the following?

• Personal balance sheet

• Personal income statement

• Personal liabilities sheet

• Personal retirement plan

Which of the following is NOT an example of intangible assets?

• Patent

• Bonds

• Trademark

• Copyright

Which of the following financial documents is recommended to store permanently?

• Annual retirement statements

• Bank statements

• Mortgage contracts

• Utility bills

Which of the following describes a person's financial debt or obligation?

• Profits

• Liabiltiies

• Assets

• Investments