1. It is a bank account wherein the depositor can draw checks. a. Drawing account b. Savings account c. Current account d. Past account 2. A deposit is shown on which part of a bank statement? a. Debit column b. Credit column c. Bottom part d. Everywhere 3. It is a written order directing a bank to pay money as instructed. a. Check b. Bank statement c. Deposit slip d. Bank instruction

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
1. It is a bank account wherein the depositor can draw checks.
a. Drawing account
b. Savings account
c. Current account
d. Past account
2. A deposit is shown on which part of a bank statement?
a. Debit column
b. Credit column
c. Bottom part
d. Everywhere
5
3. It is a written order directing a bank to pay money as instructed.
a. Check
b. Bank statement
c. Deposit slip
d. Bank instruction
4. You wrote a check and gave it to your friend as her birthday gift. Which of
the following is correct?
Drawer
Drawee
Payee
a. You
Bank
Friend
b. Bank
You
Friend
c. You
Friend
Bank
d. Bank
You
Friend
5. A time deposit is normally evidenced by a(an)
a. passbook.
b. bank statement.
c. Certificate of Time Deposit.
d. ATM card.
6. If you want to put money to your bank account, which of the following
documents should you prepare?
a. Deposit slip
b. Bank statement
c. Withdrawal slip
d. Debit card
7. A check that is dated at a future date is called.
a. ante-dated check.
b. postdated check.
c. stale check.
d. sci-fi check.
8. A check that has not been uncashed for a long period of time from its date
is called a
a. ante-dated check.
b. postdated check.
c. stale check.
d. punish check.
Transcribed Image Text:1. It is a bank account wherein the depositor can draw checks. a. Drawing account b. Savings account c. Current account d. Past account 2. A deposit is shown on which part of a bank statement? a. Debit column b. Credit column c. Bottom part d. Everywhere 5 3. It is a written order directing a bank to pay money as instructed. a. Check b. Bank statement c. Deposit slip d. Bank instruction 4. You wrote a check and gave it to your friend as her birthday gift. Which of the following is correct? Drawer Drawee Payee a. You Bank Friend b. Bank You Friend c. You Friend Bank d. Bank You Friend 5. A time deposit is normally evidenced by a(an) a. passbook. b. bank statement. c. Certificate of Time Deposit. d. ATM card. 6. If you want to put money to your bank account, which of the following documents should you prepare? a. Deposit slip b. Bank statement c. Withdrawal slip d. Debit card 7. A check that is dated at a future date is called. a. ante-dated check. b. postdated check. c. stale check. d. sci-fi check. 8. A check that has not been uncashed for a long period of time from its date is called a a. ante-dated check. b. postdated check. c. stale check. d. punish check.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education