chapter 5 Flashcards

1
Q

check

A

a business form ordering a bank to pay cash from a bank account

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

a bank account from which payments can be ordered by a deposited

A

checking account

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

two things opening a checking account

A

signature, deposit slip

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

bank form that lists checks, currency, and coins an account holder is adding to the bank account

A

deposit slip

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

a signature or stamp on the back of a check transferring ownership

A

endorsement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

three types of commonly used endorsements

A

blank endorsement, special endorsement, restrictive endorsement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

an endorsement consisting only of the endorsers signature

A

blank endorsement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

special endorsement is sometimes known as

A

endorsement in full

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

endorsement restricting further transfer of check’s ownership

A

restrictive endorsement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

a report of deposits withdrawals and bank balances sent to a deposited by a bank is called

A

bank statement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

check that has been paid by the bank

A

a canceled check

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

check that a bank refuses to pay

A

dishonored check

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

check dishonored by the bank because of insufficient funds in the account of the maker of the check

A

non-sufficient funds check

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

a non-sufficient funds check also known as

A

NSF-check

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents

A

electronic funds transfer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

bank card that automatically detects the amount of a purchase from the checking account of the cardholder is

A

debit card

17
Q

an amount of cash kept on hand and used for making small payments

A

petty cash

18
Q

a form showing proof of a petty cash payment

A

petty cash slip

19
Q

a petty cash on hand amount that is more than the recorded amount is called

A

cash over

20
Q

a petty cash on hand amount that is less than the recorded

A

cash short

21
Q
  • debited when cash is short
  • credited when cash is over
A

Account title- cash short and over