Chapter 29 POB

A is required on the back of the check in order to cash the check.

• stop-payment notice

• signature card

• bank reconciliation stamp

• endorsement

Checks that have been cashed are called .

• check registered checks

• direct deposit checks

• outstanding checks

• canceled checks

A checkbook log in which an account holder records checking account transactions is called a .

• check register
• bank statement

• bank reconciliation

• direct deposit

A record of an account holder’s signature used to verify identity is called a .

• stop payment report

• direct deposit

• signature card
• interest-bearing account

A written order directing a bank or other financial institution to pay money on demand to the person or company named is called a .

• check register

• check
• bank statement

• debit card

A debit is an entry that represents money being taken out of your account. It decreases your account balance.

• True

• False

Recording all transactions in a check register helps ensure your account balance matches your bank statements.

• True

• False

A debit in a check register increases your account balance.

• True

• False

Which of the following best describes a credit in a check register?

• An entry that represents money being taken out of your account, decreasing your balance.

• An entry that represents money being added to your account, increasing your balance.

• An entry that represents a pending transaction that does not affect your balance.

• An entry that represents a fee charged by the bank, decreasing your balance.

What is the primary purpose of maintaining a check register?

• To ensure your account balance matches your bank statements.

• To track the interest earned on your account.

• To calculate the total amount of checks written in a year.

• To monitor the number of transactions made in a month.