The bank on which a check is written is the a.Drawer b.Drawee c.Depositor d.Endorsement.

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Presentation transcript:

The bank on which a check is written is the a.Drawer b.Drawee c.Depositor d.Endorsement

The person who signs the check is the: a.Drawer b.Drawee c.Depositor d.Endorsement

The ____ enables banks to make transfers quickly and accurately form one account to another account without the immediate exchange of checks. A. external controls B. internal controls C. electronic funds transfer system D. Reconciling a bank statement

___ are the outside controls a business can use to protect is cash and other assets. A. external controls B. internal controls C. electronic funds transfer system D. Reconciling a bank statement

An itemized record of all the transactions occurring in a depositors account over a given periods is a(n) A. check B. canceled check C. Bank statement D. Checking account

A(n) ___ is a fee charged by the bank for maintaining bank records and for processing bank statement items for the depositor. A. bank service charge B. payee C. restrictive D. depositor

A(n) ___ endorsement limits how a check may be handled to protect the check from being cashed by anyone except the payee. A. blank B. restrictive C. special D. specific

___ are checks that have been written but not yet presented to the bank for payment. A. fabulous B. outstanding C. cancelled D. premium

The person who signs a check is the ___ A. drawer B. drawee C. payee D. granter

The ___ is the person or business to whom a check is written. A. drawer B. drawee C. payee D. granter

___ are the steps that a business takes to protect is cash and other assets. A. external controls B. internal controls C. electronic funds transfer system D. Reconciling a bank statement

A demand by a depositor that the bank not honor a certain specific check is a(N) A. restrictive B. voiding a check C. stop payment order D. NSF check

The practice of marking a check that contains an error so that is will not be used is known as ___ A. restrictive B. voiding a check C. stop payment order D. NSF check

A check should be written before the check stub is filled out. A. true B. false

When a business received a check in payment for a product or service, it acquires the right to that check A. true B. false

Cash is a business most liquid asset. A. true B. false

Outstanding checks and voided checks are the most frequent causes for differences between the bank statement balance and the checkbook balance. A. true B. false

Checks written in pencil are acceptable. A. true B. false

A stop payment order and voiding a check mean the same thing. A. true B. false

An example of an internal control is the daily deposit of cash receipts in the bank. A. true B. false