Checks
Check Register
Debit Card
Reconciling
Random
100
What is a blank endorsement?
Only your signature
100
What transactions are included on a checking account register?
deposits, atm transactions, debit card transactions
100
Why do we use debit cards?
Easy, convenient, and fast
100
Why is it important to reconcile each month?
Balance checkbook register with bank statement
100
Describe what is written on the back of a deposit slip?
check number, individual name,total of individual checks and total of all checks
200
If you have multiple checks to deposit, and only one blank on the front of the deposit slip, what do you do?
Add the checks to the back side of the deposit slip
200
Why is it important to add a check mark to the checkbook register?
To indicate the transaction has cleared the bank
200
When will your debit card transactions go through the bank?
immediately
200
What does it mean when a transaction has cleared the bank?
It is cleared the bank and is included on the bank statement
200
When signing a check, why should an individual sign his/her name in cursive writing?
More difficult to copy and protects the account holder from fraud
300
Why is it important to use memo on the check?
record what the payment is for, for your records
300
What do you put in the number column of the register?
Short description of the transaction DEP, DC, ATM, and check number
300
Why is it important to take a debit card receipt for every transaction?
You have a record of the date, money spend, and location
300
What does withdrawals or deposits outstanding mean?
Those withdrawals or deposits have not cleared the bank
300
Why is it important to record all transactions in the check register?
In order to keep an accurate record of money spend and deposited
400
What is the routing number?
location of your banking institution
400
When should you update your checkbook register?
After new transactions
400
How should you sign your debit card?
signature and See I.D.
400
After reconciling the bank statement and checkbook register should be the ____.
Same amount
400
Why would transactions completed on the last day of the month be "outstanding" on the bank statement?
transactions may occur between when the statement is printed and mailed to customer
500
What are the three numbers on the bottom left hand corner of a check?
Routing number, account number, and check number
500
Where do you record fees from the bank?
There is a special fee column next to the balance column
500
What is the abbreviation for debit card on the check register?
DC
500
The bank statement balance to reconcile is called the ______ balance.
new
500
Why is this simulation important to understand?
answers will vary
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