Multiple Choice Question dealing with subject math

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QUESTION 1

  1. A _____________________ shows a mistake in a deposit transaction that increases your balance.

    A.

    debit memo
    B.

    credit memo
    C.

    credit card
    D.

    debit card

10 points  

QUESTION 2

  1. A _________________ is a credit transaction where the money is transferred electronically from the customer’s credit card company when the sale is made.

    A.

    credit transaction
    B.

    debit transaction
    C.

    check register
    D.

    point-of-sale transaction

10 points  

QUESTION 3

  1. Whenever a checking account is opened, those persons authorized to write checks on the account must sign a _____________________.

    A.

    statement of intent
    B.

    payment voucher
    C.

    signature card
    D.

    will and testament

10 points  

QUESTION 4

  1. The _______________________ works just like a check except that the transaction is posted electronically at the time the transaction is made.

    A.

    credit card
    B.

    cash payment
    C.

    debit card
    D.

    IOU

10 points  

QUESTION 5

  1. Before a check can be cashed, it must be ______________.

    A.

    endorsed
    B.

    scanned
    C.

    electronically cleaned
    D.

    cancelled

10 points  

QUESTION 6

  1. The process of making the bank statement agree with the account register is called a bank statement _____________.

    A.

    accounting
    B.

    merger
    C.

    report
    D.

    reconciliation

10 points  

QUESTION 7

  1. A banking activity that changes the amount of money in a bank account is a _____.

    A.

    transaction
    B.

    deposit
    C.

    check
    D.

    service charge

10 points  

QUESTION 8

  1. An EFT is an _____.

    A.

    electronic funds ticket
    B.

    electric funds transfer
    C.

    electronic funds teller
    D.

    electronic funds transfer

10 points  

QUESTION 9

  1. The endorsement “Pay to the order of Stormy’s Pet Service” indicates that Stormy’s is the __________

    A.

    payee
    B.

    payor
    C.

    maker
    D.

    bank

10 points  

QUESTION 10

  1. A PIN authorizes a transaction on a _____ card or a(n) _____ card.

    A.

    debit, credit
    B.

    debit, ATM
    C.

    credit, ATM
    D.

    check, debit

 
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