Understanding Bank Account Transactions

What is the initial balance when you open a bank account?

• 200 rand

• 0 rand

• 100 rand

• 60 rand

What is the term used for adding money to your bank account?

• Deposit

• Overdraft

• Credit

• Withdrawal

After depositing 60 rand and then 140 rand, what is the new account balance?

• 60 rand

• 140 rand

• 200 rand

• 80 rand

What happens to your account balance when you withdraw 80 rand?

• It increases by 80 rand

• It becomes negative

• It decreases by 80 rand

• It remains the same

If you need 200 rand but only have 120 rand, what financial term describes the situation when the bank allows you to withdraw the full amount?

• Loan

• Overdraft

• Credit

• Deposit

What must you do if your account is overdrawn by 80 rand?

• Deposit at least 80 rand

• Withdraw more money

• Close the account

• Ignore the overdraft

What does 'OD' stand for on a bank statement?

• Outstanding Deposit

• Overdraft

• Outstanding Debt

• Overdrawn

What does 'CR' indicate on a bank statement?

• Credit

• Cash Reserve

• Current Rate

• Cash Return

On which date was a deposit of 60 rand made according to the bank statement?

• 13th October

• 20th October

• 5th October

• 1st October

What is shown as a negative amount on a bank statement?

• Overdraft

• Deposit

• Credit

• Withdrawal