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Intro To Business > Banking > Flashcards

Banking Flashcards

1
Q

A restrictive endorsement on the back of a check includes what 3 words

A

For deposit only

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2
Q

When you list checks on a deposit slip, include the drawers name or what?

A

American bankers association

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3
Q

What do you do f you make a mistake on a check?

A

Void the check

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4
Q

The currency line on a deposit slip is used for recording what?

A

Checks

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5
Q

How often are bank statements sent by the bank

A

Monthly

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6
Q

When you address a business letter to a company, not a person, what words do you use?

A

Ladies and gentlemen

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7
Q

A colon follows the salutation and a comma follows the complimentary closing when using what kind of punctuation

A

Mixed punctuation

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8
Q

All parts begin at the left margin when using what kind of style?

A

Block letter style

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9
Q

What does the first paragraph of a letter explain?

A

The purpose of the letter

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10
Q

What does the last paragraph of a letter explain?

A

Summarizes the main points

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11
Q

What is one common payroll deduction?

A

Health insurance

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12
Q

When is the employees withholding allowance certificate(w-4) completed?

A

When the employee is first hired

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13
Q

If an employee worked 40 regular hours at $8.00 an hour plus 5 overtime hours, what is the gross pay?

A

$415

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14
Q

How do businesses keep accurate records of employees hours spent on the job?

A

Time clocks

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15
Q

Sometimes banks serve as depositories for the…?

A

Internal revenue service

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16
Q

What are postage rates set according to?

A

The weight of mail and it’s zone of destination

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17
Q

On a bill of landing, what is the trucking company called?

A

The carrier

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18
Q

What is the weight limit at the post office?

A

70 pounds

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19
Q

What is the person or business called that is receiving the shipment?

A

The consignee

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20
Q

What does the trucking company send the shipper after the shipment has been delivered

A

Freight bill

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21
Q

When is it not nessacery to look up the zone of destination?

A

When the destination is local

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22
Q

An envelope with 1 postage stamp on it is sent by what kind of mail?

A

Priority mail

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23
Q

What are the amounts of money owed to a business by the companies customers?

A

Accounts receivable

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24
Q

What is a non profit organization exempt from?

A

Sales tax

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25
Q

Accounts of money coming into and going out of the company are called what?

A

Cash flow

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26
Q

Who are purchase orders prepared by?

A

The buyer

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27
Q

A form sent with a check when the customers pay an invoice is called what?

A

Remittance slip

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28
Q

What do the terms on a purchase order have to do with?

A

The method of payment

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29
Q

Before paying an item invoice, a manager should wait until he received the….?

A

The shipment form

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30
Q

What is it called for the price of one item

A

The unit price

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31
Q

Retailers and wholesales are also called what?

A

Suppliers

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32
Q

A fee earned based on a percentage of the sale is called?

A

Commission

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33
Q

In wary years of a mortgage pay off, most of the payment is applies to the what?

A

Interest

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34
Q

What are the goods that a business has for sale?

A

Inventory

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35
Q

What is the amount borrowed on a loan called?

A

The principal

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36
Q

If the payments on an installment loan are not made in a time matter what happens?

A

The seller has the right to repossess

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37
Q

In addition to the principal and interest what else do mortgage payments include?

A

Insurance and taxes

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38
Q

Which of the following would be considered 2 words in calculating a want ad?

A

On/off

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39
Q

What is the cost of a want ad determined by?

A

The number of issues and the number of words

40
Q

What do the advertising agencies charge their customers for?

A

The cost of each ad Andalusia a commission

41
Q

Advertising appearing in the yellow pages of a telephone book is called what?

A

Directory advertising

42
Q

What is a business called owned by 1 person?

A

Sole proprietorship

43
Q

What is a business called that is owned by stockholders and managed by a board of directors?

A

Corporation

44
Q

What’s the name of a program that is designed to make new employees quickly feel at home?

A

Orientation

45
Q

How do business check to make sure that the employees are doing their work efficiently?

A

Audits

46
Q

What is the executive summary?

A

The key points in a business

47
Q

What’s the advantages of owning your own business?

A

Own boss, earning profits, working alone

48
Q

What’s the purpose of writing a business plan?

A

To incorporate business

49
Q

What’s the first step in preparing for work?

A

Research the prospective employer

50
Q

How should you go about getting an employer to interview her?

A

Take the initative to contact them for an interview

51
Q

What’s the purpose of a job performance evaluation?

A

Help an employee identify their strengths and weaknesses

52
Q

What will help you keep your job once your hired?

A

Human relation skills

53
Q

What is tact?

A

Knowing what to do or say in a situation

54
Q

What is tolerance?

A

Recognizing and making allowances for the different people

55
Q

What does the corporation conduct annually?

A

Anual stockholders meeting

56
Q

Who controls the corporation?

A

The board of directors

57
Q

What is an investment?

A

Money put to work to earn money

58
Q

Bank on which a check is drawn

A

Drawee

59
Q

Person or business who receives a check

A

Payee

60
Q

Form for recording deposits and checks

A

Check register

61
Q

Checks paid by the bank

A

Canceled checks

62
Q

Business stationary

A

Letterhead

63
Q

Contains an introduction, detailed info, and a conclusion

A

Body

64
Q

First line written or keyed on a business letter

A

Date

65
Q

Serves as a reminder that there is something included with the letter

A

Enclosure notation

66
Q

Amount an employer receives before deductions

A

Gross pay

67
Q

Form listing gross and net pay for the employers of a business

A

Payroll register

68
Q

What is priority mail

A

First class mail

69
Q

Fastest delivery service offered by u.s postal service

A

Express mail

70
Q

Provides a mailing receipt

A

Certified mail

71
Q

Includes the cover latter and table of contents

A

Introduction

72
Q

Includes mission statement and other goals

A

Description of business

73
Q

Organization chart and job description

A

Management

74
Q

Documents not in the body of the business plan

A

Appendix

75
Q

Marketing plan

A

Research conducted and customer profile

76
Q

Financial plan

A

Estimates of income and expenses for business

77
Q

What is an investment?

A

Money put to work to earn money

78
Q

Bank on which a check is drawn

A

Drawee

79
Q

Person or business who receives a check

A

Payee

80
Q

Form for recording deposits and checks

A

Check register

81
Q

Checks paid by the bank

A

Canceled checks

82
Q

Business stationary

A

Letterhead

83
Q

Contains an introduction, detailed info, and a conclusion

A

Body

84
Q

First line written or keyed on a business letter

A

Date

85
Q

Serves as a reminder that there is something included with the letter

A

Enclosure notation

86
Q

Amount an employer receives before deductions

A

Gross pay

87
Q

Form listing gross and net pay for the employers of a business

A

Payroll register

88
Q

What is priority mail

A

First class mail

89
Q

Fastest delivery service offered by u.s postal service

A

Express mail

90
Q

Provides a mailing receipt

A

Certified mail

91
Q

Includes the cover latter and table of contents

A

Introduction

92
Q

Includes mission statement and other goals

A

Description of business

93
Q

Organization chart and job description

A

Management

94
Q

Documents not in the body of the business plan

A

Appendix

95
Q

Marketing plan

A

Research conducted and customer profile

96
Q

Financial plan

A

Estimates of income and expenses for business

Intro To Business (1 decks)

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