Baking money received

Q1. What is the first step in banking cash receipts?

• A. Handing money directly to customers

• B. Counting and checking the cash against sales records

• C. Giving the cash to staff without records

• D. Writing cheques for customers

Q2. What information is usually written on a deposit slip?

• A. Staff names and addresses

• B. Amount of cash, number of cheques, total cheque value

• C. Product prices and stock details

• D. Only the customer’s signature

Q3. When businesses use EFTPOS machines for card payments, how are receipts credited?

• A. They are manually carried to the bank

• B. They are credited directly into the retailer’s bank account

• C. Customers must return to pay in cash

• D. Staff must keep them until end of year

Q4. How are manual debit/credit card transactions handled when POS machines are not working?

• A. They are ignored

• B. They must be listed on a summary voucher for banking

• C. They are replaced with cash sales

• D. They are written on receipts only

A (a)   is used to record the amount of cash and cheques when depositing money into the bank.

A summary (a)   is used when debit or credit card transactions are processed manually.