Managing a Bank Account Tracking Your Money Test Review.
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Transcript of Managing a Bank Account Tracking Your Money Test Review.
What is the process of comparing personal bank account records to the bank’s records of that account balance in order
to uncover any possible discrepancies?
What is a computer terminal used to conduct business with a financial institution or purchase items such as
postage stamps or transportation tickets?
What is a plastic card that provides access to electronic funds transfer (EFT) from an
automated teller machine (ATM)?
True/FalseYou reconcile your bank statement to determine
if there are any discrepancies in your records.
What is a written order directing a bank or credit union to pay a person or business a
specific sum of money?
True/FalseYou should write the cents of the amount of the check in
the small space that starts with the dollar sign as a fraction.
True/FalseWhen using a debit card, it is important to remember to write down all transactions and add them to your account balance.
When using a debit card, it is important to remember to write down all transactions and
subtract them from your account.
True/FalseThe primary purpose of a check or debit card is to replace
cash so the government has a record of your activities.
True/FalseThe primary purpose of a check or debit card is to make it easier for people to buy goods and services, pay bills, and
make other financial transactions.
True/FalseWriting a check for insufficient funds can result in expensive fees, fines, even jail time if convicted
True/FalseWhen you receive your monthly bank statement, it is
recommended that you use it to reconcile your checking account.
What is a written document ordering a financial institution to transfer money from your account
to someone else