Banking Quiz

Each time cash or checks are placed in a bank account, the customer prepares a ...

• deposit slip

• signature card

• check

• No answer text provided.

An endorsement on the back of a check consisting only of a signature is

• blank endorsement

• special endorsement

• a restrictive endorsement

• an incorrect endorsement

A lost check with a blank endorsement on it can be cashed by

• anyone who has the check

• only the person whose name follows the words 'Pay to the order of'

• only the person who endorsed the check

• No answer text provided.

The entry to establish a $200.00 petty cash fund is

• debit Petty Cash, $200.00; credit Cash, $200.00

• debit Cash, $200.00; credit Petty Cash, $200

• debit Miscellaneous Expense; $200.00; credit Cash, $200.00

• debit Petty Cash, $200.00; credit Miscellaneous Expense, $200

A petty cash fund is always replenished

• at the end of the month

• weekly

• daily

• bi weekly

The bank statement shows a checking account balance of $5,500.00. There are outstanding checks totaling $600.00, an outstanding deposit of $400.00, and a bank service charge of $15.00. The Cash account balance should be.

• $5,300.00

• $5,700.00

• $5,285.00

• No answer text provided.

Which term best describes a check that a bank refuses to pay?

• dishonored check

• petty cash

• debit

• post dated check

Which term best describes a report of deposits, withdrawals, and bank balances sent to a depositor by a bank?

• bank statement

• checking account

• savings account

• endorsement

An endorsement on the back of a check indicating that the check is to be accepted for deposit only is a

• restrictive endorsement

• blank endorsement

• special endorsement

• deposit endorsement

An amount owed by a business

• Asset

• Liability

• Owners equity or capital

• No answer text provided.