WorksheetsBank
Total questions: 5
Worksheet time: 3mins
A transaction that removes money from a bank account.
Debit
Deposit
Interest
Balance
A bank account used for day-to-day transactions, such as paying bills or making purchases.
Savings Account
Credit Account
Checking Account
Certificate of Deposit (CD)
Which of the following is TRUE about banks and credit unions?
Banks are for-profit institutions, while credit unions are non-profit
Banks offer higher interest rates on savings accounts than credit unions
Credit unions are insured by the FDIC, while banks are not
Banks are owned by their customers, while credit unions are owned by shareholders
A cash deposit made by business appears on the bank statement as _______ balance.
Debit
Credit
Expenses
Liabilities
What is a savings account primarily used for?
Making daily transactions
Earning interest on deposited money
Taking out loans
Investing in stocks
