Accountancy, Business, and Management Quiz

What account is intended to provide an incentive for the depositor to save money?

• Checking account

• Current account

• Savings account

• ATM account

What type of savings account is held for a fixed-term and can be withdrawn only after the lapse of the agreed period?

• Checking account

• Current account

• Time deposit account

• ATM account

Which type of slip is used to get money out from the account?

• Check out slip

• Deposit slip

• Pull out slip

• Withdrawal slip

What document orders a bank to pay a specific amount of money from a person's account to another person?

• Billing statement

• Certificate

• Check

• Statement of account

What do you call a person or entity who makes the check?

• Drawer

• Payee

• Drawee

• Allottee

Which is the simplest bank account?

• ATM account

• Current account

• Savings account

• Time deposit account

What machine allows deposit and withdrawal transactions?

• ATM account

• Point of Sale machine

• Vending machine

• Automated Teller Machine

What form shows detailed transaction history of the bank account over the reporting period?

• Bank statement

• Bank checks

• Passbook

• Statement of account

In using check, who is involved as the recipient of the money?

• Drawee

• Allottee

• Payee

• Drawer

Which of the following statement is true about cash?

• Company maintains petty cash funds for daily usage

• All cash receipts should be deposited in the bank at the end of the week

• Cash payments should be made through bank checks

• Cash is the only current asset of the business