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Duplicate of JA Biztown Financial Literacy Flashcards | StudBud
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Duplicate of JA Biztown Financial Literacy
Duplicate of JA Biztown Financial Literacy
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Flashcards
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Questions
16
Answers
1
The amount left over from your paycheck after taxes and deductions is called:
gross balance
balance
net pay
transaction
2
Cards that allow customers to electronically andimmediately withdraw funds from their account.
Credit Card
Debit Card
3
What do you need to do when you get your paycheck?
Take out the Taxes
Put in the amount
Tipthe CFO
Endorse it
4
All bank transactions should be recorded in the register.
False
True
5
A direct deposit is when you take your paycheck directly to the bank after you receive it.
True
False
6
Which of the following are financial institutions?
library
museum
credit union
bank
7
What goes in the the memo part of a check ?
Description of what was bought
Date of purchase
The name of the company
Your name
8
A card that allows the holder to buy goods/services, taking out a bankloan for the purchases.
Credit Card
Debitg Cardf
9
When do you need to sign your deposit ticket?
After writing a check
Always
When you take it to the bank
When you want cash back
10
<p>Select the correct answer.</p>
She didn't have enough balance in her checking account
<p>she was supposed to get cash instead of writing check</p>
She wrote the check with a date of a previous month
<p>She wrote a check for the incorrect amount</p>
11
Credit cards and debit cards as essentially the same thing.
<p>True</p>
False
12
You can continue to write checks as long as you have checks in your checkbook.
<p>True</p>
<p>False</p>
13
When depositing money into an account, it is important to:
<p>include your account number</p>
thank the teller
sign your deposit ticket
swipe your credit card
14
Where do you record debits and credits from your checking account?
On your hand
Check Register
Debit Card
Deposit Ticket
15
A fee that is received for the use of money
Cost
Resources
Economy
Interest
16
Which services is a bank likely to offer?
online banking
savings account
balance
net deposit
