Search Header Logo

Banking Terms 1

Authored by Debra Harris

Life Skills, Social Studies, English

10th Grade

Used 4+ times

Banking Terms 1
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What is a checking account?

when a bank or other financial organization) remove (an amount of money) from a customer's account, typically as payment for services or good​

where all the debits and credits in your account are recorded. ​

An account at a bank/or credit union (sometimes called a share draft account at a credit union) that allows you to make deposits, pay bills, and make withdrawals.

An account (sometimes called a share savings account) used to set aside money and that pays you interest.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What is a Bill Payment Service?

an estimate of income and expenditure for a set period of time.​

It allows a business to use your cash, your bank account to pay your bills. Typically, through a website or mobile banking application. ​

a machine that lets bank customers perform basic transactions, such as deposits and withdrawals. ​

where all the debits and credits in your account are recorded. ​

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What is an ATM?

A service in which you allow a business to use your cash, your bank account to pay your bills. Typically, through a website or mobile banking application. ​

when (a bank or other financial organization) remove (an amount of money) from a customer's account, typically as payment for services or good

interest is calculated on both the principal and the previously earned interest. ​

a machine that lets bank customers perform basic transactions, such as deposits and withdrawals. ​

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What are fixed expenses?

Expenses that do not change from month to month

Expenses that change each month

when (a bank or other financial organization) remove (an amount of money) from a customer's account, typically as payment for services or good​

the amount of money remaining in a bank account

5.

MULTIPLE SELECT QUESTION

1 min • 1 pt

Media Image

What is credit?

the amount of money remaining in a bank account

A service in which you allow a business to use your cash, your bank account to pay your bills.

where all the debits and credits in your account are recorded. ​

a loan given for business requirements or personal needs to its customers, ​

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What is a Savings account?

An account at a bank/or credit union (sometimes called a share draft account at a credit union) that allows you to make deposits, pay bills, and make withdrawals.

sum of money lent or invested, on which interest is paid

An account (sometimes called a share savings account) used to set aside money and that pays you interest. ​

entry recording an amount owed, listed on the left-hand side or column of an account.​

7.

MULTIPLE SELECT QUESTION

1 min • 1 pt

Media Image

What is a Debit?

an entry recording an amount owed, listed on the left-hand side or column of an account.​

when (a bank or other financial organization) remove (an amount of money) from a customer's account, typically as payment for services or good​

Expenses that do not change from month to month

Expenses that change each month

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?