Accounting Chapter 11 Vocab

Procedures within the business that are designed to protect cash and other assets and to keep reliable records

• Internal controls
• Financial regulations
• External controls
• Operational procedures

Measures and procedures provided outside the business to protect cash and other assets.

• Internal controls
• Operational procedures
• Financial regulations
• External controls

An account that allows a person or business to deposit cash in a bank and then write checks and make ATM withdrawals and purchases against the account balance.

• Savings account
• Credit card
• 401(k) account
• Checking account

A person or business that has cash on deposit in a bank.

• Withdrawal
• Depositor
• Lender
• Investor

A written order from a depositor telling the bank to pay a stated amount of cash to the person or business named on the check.

• Cash
• Check
• Credit card
• Debit card

A bank form used to list the cash and checks to be deposited.

• deposit slip
• loan application
• bank statement
• withdrawal slip

A check endorsement that includes only the signature or stamp of the depositor. It does not specify the new owner of the check.

• Full Endorsement
• Partial Endorsement
• check

• endorsement

A check endorsement that includes only the signature or stamp of the depositor. It does not specify the new owner of the check.

• Blank endorsement
• Full endorsement
• Restricted endorsement
• Special endorsement

A check endorsement that a transfers ownership of the
check to a specific individual or business.

• open endorsement
• blank endorsement
• special endorsement
• restrictive endorsement

A check endorsement that transfers ownership to a
specific owner and limits how the check may be handled (for example, For Deposit Only).

• Open endorsement
• Conditional endorsement
• Unrestricted endorsement
• Restrictive endorsement