24 Personal Finance Final Review

_________________________ is a folder or small book containing preprinted paper instruments issued to checking account holders and used to pay for goods or services.

• Checkbook
• OUSTANDING cHECK

• CHECK REGISTER

• BANK STATEMENT

_________________________ a signature or an equivalent stamp that authorizes payment or a transfer of funds, or other financial transaction.

• a. Blank Endorsement

• b. Endorsement

• c. Special Endorsement

• d. Restrictive Endorsement

_________________________ has no designated payee, so the person who possesses it can demand payment.

• BLANK ENDORSEMENT

• ENDORESEMENT

• SPECIAL ENDORESEMENT

• RESTRICTIVE ENDORSEMENT

_________________________ is one where the endorser puts his signature on the instrument as well as writes the name of a person to whom order the payment is to be made.

• a. Blank Endorsement

• b. Endorsement

• c. Special Endorsement

• d. Restrictive Endorsement

The most common _________________________ is the phrase For Deposit Only written along with the payee's signature on the back of a check.

• a. Blank Endorsement

• b. Endorsement

• c. Special Endorsement

• d. Restrictive Endorsement

The maker of a bill of exchange or check is called the ________________.

• Drawer
• PAYEE

• DRAWEE

• OUTSTANDING CHECK

A ________________ is an individual or organization providing goods or services in exchange for money.

• Drawer

• Payee

• Drawee

• Outstanding Check

________________ is the party that has been ordered by the drawer to pay a certain sum of money to the person presenting the check.

• Drawee
• PAYEE

• DRAWER

• CHECKBOOK

________________ is a record of transactions in a checking account.

• Check Register
• BANK STATEMENT

• BANK RECONCILIATION

• CHECKBOOK

________________ includes deposits, charges, withdrawals, as well as the beginning and ending balance for the period, along with any interest earned.

• Bank Statement
• CHECK REGISTER

• BANK RECONCILIATION

• BANK STATEMENT