Chapter 5 test - Finance

Front

A canceled check is one that has been processed by the bank.

Back

True

Front

Floating a check is illegal in most states.

Back

true

Front

Writing a future date on a check is called postdating.

Back

True

Front

Paying bills online is generally considered slower and riskier than writing checks.

Back

False

Front

When depositing a check into your account, you should write the check’s ABA number on the deposit slip.

Back

True

Front

The column headed by a check mark in a checkbook register is provided so you can make a note of your checks that have bounced.

Back

False

Front

You should reconcile your checking account as soon as you receive your bank statement.

Back

true

Front

A check cannot be cashed until it has been reconciled.

Back

False

Front

A joint checking account can be opened by two or more people.

Back

True

Front

A money order can never bounce.

Back

True