Chapter 10 Flashcards
1
Q
What is a cash management account?
A
An account where the bank moves idle money into interest Bering accounts.
2
Q
What is in imprest payroll account or imprest bank account?
A
The account payroll checked are cashed.
3
Q
What’s an electronic funds transfer?
A
EFT’s are cash transfers made automatically instantaneously there are no checks or cash required.
4
Q
What is a general checking account?
A
A checking account used for most cash transactions
