ACC Chapter 11 Quiz Part 2 Review

What is the term for the processes and procedures implemented to provide reasonable assurance that control objectives are met?

• External controls

• Internal controls

• Bank statement

• Endorsement

Which type of account allows payments to be ordered by a depositor?

• Savings account

• Checking account

• Deposit account

• Loan account

What is a business form ordering a bank to pay cash from a bank account called?

• Deposit slip

• Check

• Signature card

• Endorsement

Who is a person or business that has cash on deposit in a bank?

• Payee

• Drawer

• Depositor

• Drawee

What includes the signatures of each person authorized to sign checks on the bank account?

• Deposit slip

• Endorsement

• Signature card

• Bank statement

What is a bank form that lists the checks, currency, and coins an account holder is adding to the bank account?

• Deposit slip

• Check

• Bank statement

• Endorsement

What is a signature or stamp on the back of a check transferring ownership called?

• Signature card

• Endorsement

• Deposit slip

• Bank statement

What is an endorsement consisting only of the endorser's signature called?

• Special endorsement

• Restrictive endorsement

• Blank endorsement

• Signature card

What is an endorsement indicating a new owner of a check called?

• Blank endorsement

• Special endorsement

• Restrictive endorsement

• Signature card

What is an endorsement restricting further transfer of a check's ownership called?

• Blank endorsement

• Special endorsement

• Restrictive endorsement

• Signature card