Lesson 9

Question 1

is an important asset docf the company . it is one that is easily misappropriated if not properly safeguarded.

Answer 1

Cash

Question 2

earn minimal interest and may have a minimum balance requirement

Answer 2

Saving account

Question 3

is like a saving account that allows withdrawals through the issuance of bank check.

Answer 3

Checking account

Question 4

are investment placements wherein the depositor agrees not to withdraw the funds over the contracted period in exchange for fixed interest which are higher than deposit rates.

Answer 4

Deposit account

Question 5

allows investors to indirectly invest in stocks and bonds.

Answer 5

Unit investment trust funds ( UITF)

Question 6

is a bank form filled out by the depositor to document a deposit transaction.

Answer 6

Deposit slip

Question 7

document the withdrawl from the passbook account

Answer 7

Withdrawal slip

Question 8

is a bank form filled out by the account holder that instructs the bank to pay the specific amount to the designated payee on the date as indicated on the check .

Answer 8

Bank check

Question 9

is a detailed transaction history of the bank account over the reporting period

Answer 9

Bank statement

Question 10

is the procedure to reconcile the unadjusted bank and book balances to the correct cash balance.

Answer 10

Bank reconciliation