Business Technology Final Review

When writing a check, it is a good idea to use

• pencil

• erasable pen

• blue or black ink pen

• red pen

One should always use an ink pend to complete a deposit slip.

• true

• false

The drawer is the person writing check.

• True

• False

The payee is the financial institution the check is written on.

• True

• False

Approximately how often does a financial institution send a bank statement through the mail?

• yearly

• weekly

• quarterly

• monthly

Which part of the check is the least important?

• memo line

• signature line

• routing numbers

• check number

When it comes to saving money, what is a good rule of thumb?

• Keep most of your savings in your checking account

• Put aside money for savings each month

• Choose the savings account with the lowest interest rate

• Put anything you can't afford on your credit card

Gross profit is_________________.

• Net profit - expenses

• Cost of goods sold + opening inventory

• Sales - purchases

• Revenue - cost of goods sold

Employee's Withholding Allowance Certificate

• W-2

• W-9

• W-6

• W-4

The total amount of income you earn in a pay period before any deductions are taken out

• Gross pay

• Net pay

• Wages

• Salary