Principles of Business Chap 19 Vocab

Aiden, Abigail, and Michael are planning to use their money wisely to reach their important goals and advance their financial security. What strategy should they follow?

• Use overdraft

• Implement a savings plan

• Place a stop-payment order

• Get a cashier’s check

Emma wrote a check to Nora for an amount greater than the balance in her account. This situation is also known as a bounced check. What is this situation called?

• overdraft

• savings plan

• stop-payment order

• cashier’s check

Priya wrote a check to David for a large amount. Later, she realized that she didn't have enough funds in her account to cover the check. She quickly went to her bank and requested them to refuse to honor the check if it has not already cleared the account and been paid. What is this action called?

• overdraft

• savings plan

• stop-payment order

• cashier’s check

Priya is planning to buy a car and she wants to pay with a special type of check that the bank guarantees to pay. Noah suggested her to use:

• overdraft

• savings plan

• stop-payment order

• cashier’s check

Emma has written a personal check to Harper. Before Harper accepts it, she wants to ensure that the check is genuine and that Emma's account has enough money to cover the check. What type of check is this?

• certified check

• cashier’s check

• money order

• traveler’s check

Ethan is planning to send a payment order for a specific amount of money to his friend, James. This payment should be payable to James only. What method should Ethan use?

• certified check

• cashier’s check

• money order

• traveler’s check

Luna is planning a trip abroad and she wants to carry a special form of check that functions as cash. Which one should she choose?

• certified check

• cashier’s check

• money order

• traveler’s check

Samuel received a check from Jackson. He signed on the back of the check. This action is known as?

• payee

• postdated check

• endorsement

• bank statement

: Aria runs a small business and she has just written a check to a person, business, or organization. What is the term for the entity to whom Aria's check is written?

• payee

• postdated check

• endorsement

• bank statement

Aria is planning to pay her rent but she doesn't have enough money right now. She decides to write a check to her landlord, Grace, but dates it for a future date when she will have the money in her account. What is this type of check called?

• payee

• postdated check

• endorsement

• bank statement