[FINALS] FABM 2 - QUIZ II

A cross check has two parallel lines on its upper left corner.

• TRUE

• FALSE

Stale checks can no longer be encashed.

• TRUE

• FALSE

Money held under a checking account cannot be withdrawn through the issuace of a check or an ATM withdrawal.

• TRUE

• FALSE

Bank debit transactions are added to the running balance.

• TRUE

• FALSE

Bank service charge is an example of bank debit transactions.

• TRUE

• FALSE

Drawee is the person or entity who makes the check.

• TRUE

• FALSE

At the end of every month, the bank provides a depositor with a statement showing the movements of his account.

• TRUE

• FALSE

Payee is the one to whom the check is issued.

• TRUE

• FALSE

A check is a written order to the bank or the drawee to pay a specific amount of money from the drawer's account to the person named as the payee.

• TRUE

• FALSE

Stale check is a check that was written more than a certain number of months ago which is not yet encashed but deposited by the payee.

• TRUE

• FALSE