Lesson 2 JA BizTown Checking Accounts

Writing a check is one way people withdraw money from a checking account.

• True

• False

• Either

• Neither

You must always sign a deposit ticket.

• True

• False

• Either

• Neither

If there is not enough money in the account, the bank usually covers the amount for the check holder.

• True

• False

• Either

• Neither

All transactions should be recorded in the transaction/check register.

• True

• False

• Either

• Neither

A paycheck and a personal check are the same thing.

• True

• False

• Either

• Neither

Answer explanation

A paycheck is from a business and a person check is from a person.

What is the starting balance on this check register?

• 4720.33
• 4500.00
• 4500.75
• 4320.00

What was the balance of the account at the end of the day on 7/24?

• 4720.33
• 4320.03
• 5091.15
• 4500.75

On which day was the balance the highest?

• 7/7
• 7/15
• 7/19
• 7/20

What happened on 7/5?

• a paycheck was deposited
• check #164 was written
• nothing
• the balance went up

What is the balance on 6/25?

• 1177.80
• 1000.00
• 157.80
• 320.55