Question 1

The instrument used most often for transferring funds is the debit card.

Accepted Answer

A) True 
 B)False  FALSE

Question 2

A cashier's check is also called a/an

Accepted Answer

A)  treasurer's check. 
B)  cancelled check. 
C)  outstanding check. 
D)  personal check. 
A)  treasurer's check. 
B)  cancelled check. 
C)  outstanding check. 
D)  personal check. A

Question 3

A bank draft is a check drawn by a bank on its own funds (or credit) in another bank located in the same city or another city.

Accepted Answer

A) True 
 B)False  TRUE

Question 4

The balance sheet's purpose is to show the total capital figure the owner has invested.

Accepted Answer

A) True 
 B)False

Question 5

When a customer activates an automated teller machine with an EFT card and enters a PIN or secret password, the computer is ready to answer an inquiry about the customer's account, supply balance data, or dispense cash.

Accepted Answer

A) True 
 B)False

Question 6

What is a petty cash fund used for?

Accepted Answer

When the amount of office expenditure is

Question 7

Explain when a cashier's check would be most often used.

Accepted Answer

Cashier's checks are suitable for times

Question 8

What is a stop-payment notification?

Accepted Answer

At the request of the drawer, a bank wil

Question 9

The drawee can request a stop-payment notification on a check for a fee only at certain days during the month.

Accepted Answer

A) True 
 B)False

Question 10

________ is an electronic delivery system for financial transactions.

Accepted Answer

A)  Electronic funds transfer 
B)  Federal depository banking system 
C)  Computer assisted drawing 
D)  None of the above 
A)  Electronic funds transfer 
B)  Federal depository banking system 
C)  Computer assisted drawing 
D)  None of the above

Question 11

When making a bank deposit and you have a lot of coins, use coin wrappers supplied by the bank to package a large number of coins in rolls, and write your account number on each roll.

Accepted Answer

A) True 
 B)False

Question 12

A master budget consists of various budgets that collectively express the company's future activities.

Accepted Answer

A) True 
 B)False

Question 13

The company making an automatic deposit must be given the account's American Banking Association electronic pin number and the bank account number in which the money is to be deposit.

Accepted Answer

A) True 
 B)False

Question 14

When traveler's checks are lost or stolen, the owner usually can obtain a refund immediately by contacting a representative office of the company whose checks were purchased.

Accepted Answer

A) True 
 B)False

Question 15

Assets are what the company owes.

Accepted Answer

A) True 
 B)False

Question 16

Explain how a debit card is obtained.

Accepted Answer

Debit cards are obtained through the ban

Question 17

Another name for an income statement is a/an

Accepted Answer

A)  profit and loss statement. 
B)  statement of owner's equity. 
C)  accounts receivable schedule. 
D)  balance sheet. 
A)  profit and loss statement. 
B)  statement of owner's equity. 
C)  accounts receivable schedule. 
D)  balance sheet.

Question 18

A comparison of the final bank balance on the bank statement with the company checkbook balance is called a/an

Accepted Answer

A)  balance sheet. 
B)  bank reconciliation. 
C)  income statement. 
D)  petty cash fund balance. 
A)  balance sheet. 
B)  bank reconciliation. 
C)  income statement. 
D)  petty cash fund balance.

Question 19

You should prepare a petty cash voucher for each expenditure in a petty cash fund.

Accepted Answer

A) True 
 B)False

Question 20

You can research current currency exchange rates by

Accepted Answer

A)  checking the newspaper. 
B)  searching the Internet. 
C)  calling your local bank. 
D)  All of the above. 
A)  checking the newspaper. 
B)  searching the Internet. 
C)  calling your local bank. 
D)  All of the above.

The instrument used most often for transferring funds is the debit card.

A cashier's check is also called a/an

A bank draft is a check drawn by a bank on its own funds (or credit) in another bank located in the same city or another city.

The balance sheet's purpose is to show the total capital figure the owner has invested.

When a customer activates an automated teller machine with an EFT card and enters a PIN or secret password, the computer is ready to answer an inquiry about the customer's account, supply balance data, or dispense cash.

What is a petty cash fund used for?

Explain when a cashier's check would be most often used.

What is a stop-payment notification?

The drawee can request a stop-payment notification on a check for a fee only at certain days during the month.

________ is an electronic delivery system for financial transactions.

When making a bank deposit and you have a lot of coins, use coin wrappers supplied by the bank to package a large number of coins in rolls, and write your account number on each roll.

A master budget consists of various budgets that collectively express the company's future activities.

The company making an automatic deposit must be given the account's American Banking Association electronic pin number and the bank account number in which the money is to be deposit.

When traveler's checks are lost or stolen, the owner usually can obtain a refund immediately by contacting a representative office of the company whose checks were purchased.

Assets are what the company owes.

Explain how a debit card is obtained.

Another name for an income statement is a/an

A comparison of the final bank balance on the bank statement with the company checkbook balance is called a/an

You should prepare a petty cash voucher for each expenditure in a petty cash fund.

You can research current currency exchange rates by

Understanding the Changing and Challenging Office

Human Relations

Preparing for Your Job Search

Managing Your Work, Time, and Other Resources

Communicating by Telephone

Building Communication Skills

Processing Mail

Records Management

Scheduling Appointments and Receiving Visitors

Making Travel Arrangements

Planning Meetings and Conferences

Developing Effective Oral Presentations

Preparing to Meet the Challenges

Working in a Medical Office

Working in a Legal Office

Filters

Exam 9: Handling Financial Procedures

The instrument used most often for transferring funds is the debit card.

A cashier's check is also called a/an

A bank draft is a check drawn by a bank on its own funds (or credit) in another bank located in the same city or another city.

The balance sheet's purpose is to show the total capital figure the owner has invested.

When a customer activates an automated teller machine with an EFT card and enters a PIN or secret password, the computer is ready to answer an inquiry about the customer's account, supply balance data, or dispense cash.

What is a petty cash fund used for?

Explain when a cashier's check would be most often used.

What is a stop-payment notification?

The drawee can request a stop-payment notification on a check for a fee only at certain days during the month.

________ is an electronic delivery system for financial transactions.

When making a bank deposit and you have a lot of coins, use coin wrappers supplied by the bank to package a large number of coins in rolls, and write your account number on each roll.

A master budget consists of various budgets that collectively express the company's future activities.

The company making an automatic deposit must be given the account's American Banking Association electronic pin number and the bank account number in which the money is to be deposit.

When traveler's checks are lost or stolen, the owner usually can obtain a refund immediately by contacting a representative office of the company whose checks were purchased.

Assets are what the company owes.

Explain how a debit card is obtained.

Another name for an income statement is a/an

A comparison of the final bank balance on the bank statement with the company checkbook balance is called a/an

You should prepare a petty cash voucher for each expenditure in a petty cash fund.

You can research current currency exchange rates by

Understanding the Changing and Challenging Office

Human Relations

Preparing for Your Job Search

Managing Your Work, Time, and Other Resources

Communicating by Telephone

Building Communication Skills

Processing Mail

Records Management

Scheduling Appointments and Receiving Visitors

Making Travel Arrangements

Planning Meetings and Conferences

Developing Effective Oral Presentations

Preparing to Meet the Challenges

Working in a Medical Office

Working in a Legal Office

Filters