Banking

Question 1

Which transactions can increase the balance in a checking account? Check all that apply.

Revolt · Accepted Answer

direct deposit of a paycheck; EFT from a different bank into the account

Question 2

Explain why it is important for Bob to keep the receipt and record the information in his check register.

Revolt · Accepted Answer

It is important to record each transaction so Bob knows how much money is in his account. That prevents being overdrawn. Recording debits and deposits helps with budgeting. It is good to keep receipts in case of any bank errors.

Question 3

Check all that you included in your response.

Revolt · Accepted Answer

Bob knows the amount of money in his account.

Question 4

The letter represents where the amount of $158.29 should be written. The letter represents where the amount of $250 should be written.

Revolt · Accepted Answer

A; Selection 1: A; Selection 2: D

Question 5

The letter represents where the amount of $250 should be written.

Revolt · Accepted Answer

D

Question 6

Which shows the correct amount in Carl’s checking account?

Revolt · Accepted Answer

$109.75

Question 7

Which checking account would be best for Kiera? Account

Revolt · Accepted Answer

B

Question 8

Which is true about Janet’s account?

Revolt · Accepted Answer

The account balance is $70.40.

Banking Answers

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