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Debit and Credit Flashcards | StudBud
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Debit and Credit
Debit and Credit
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#debit #credit #financialliteracy #juniorachievement
Flashcards
15 cards
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Questions
15
Answers
1
What services does a bank provide?
Loans
Checking Accounts
Check cashing
All the above
2
Which of the following must be considered when "shopping" for a financial institution?
Low interest rates on loans
High interest rates on savings
All the above
Safety and convenience
3
An electronic way to view account activity & pay bills online is known as...
Internet Bank
Online Banking
Mobile Banking
4
Who uses financial institutions?
Account holders with lots of cash
College graduates
Adults
Those who have savings/checking, debit/credit, or need loan
5
An example of a financial institution is...
A department store
An ATM machine
A school
A bank
6
What is a business that offers money-related services?
Financial Institution
Financial Firm
Bank
Loan Office
7
True or False: Debit means withdrawal or deduction
True
False
8
Which of the following could happen if you cannot afford the items you charged on credit?
Late fees
All the above
Repossession
Decrease in your credit score
9
What is a web-only bank?
Internet Bank
Online banking
Internet Bank
Mobile banking
10
A fee received for the use of your money is known as...
Earnings
Growth
Savings
Interest
11
True or False: A bank is a not-for-profit financial institution
False
True
12
True or False: Internet banking means using a bank branch to make deposits and withdrawals
True
False
13
Debit cards...
is like a check, but doesn't require the processing time
are handy in an emergency when you don't have the $ to spend
safe to use online
are a buy-now-pay-later payment option
14
True or False: Credit cards are a buy-now-pay-now payment option
False
True
15
Lenders use credit agencies to determine
Whether an applicant has any outstanding debt or defaults
An applicant's credit history
An applicant's credit score
All the above
