The bank on which a check is written

The bank on which a check is written is the a. b. c. d. Drawer Drawee Depositor Endorsement

The person who signs the check is the: a. b. c. d. Drawer Drawee Depositor Endorsement

The ____ enables banks to make transfers quickly and accurately form one account to another account without the immediate exchange of checks. • • A. external controls B. internal controls C. electronic funds transfer system D. Reconciling a bank statement

___ are the outside controls a business can use to protect is cash and other assets. • • A. external controls B. internal controls C. electronic funds transfer system D. Reconciling a bank statement

An itemized record of all the transactions occurring in a depositors account over a given periods is a(n) • • A. check B. canceled check C. Bank statement D. Checking account

A(n) ___ is a fee charged by the bank for maintaining bank records and for processing bank statement items for the depositor. • • A. bank service charge B. payee C. restrictive D. depositor

A(n) ___ endorsement limits how a check may be handled to protect the check from being cashed by anyone except the payee. • • A. blank B. restrictive C. special D. specific

___ are checks that have been written but not yet presented to the bank for payment. • • A. fabulous B. outstanding C. cancelled D. premium

The person who signs a check is the ___ • • A. drawer B. drawee C. payee D. granter

The ___ is the person or business to whom a check is written. • • A. drawer B. drawee C. payee D. granter

___ are the steps that a business takes to protect is cash and other assets. • • A. external controls B. internal controls C. electronic funds transfer system D. Reconciling a bank statement

A demand by a depositor that the bank not honor a certain specific check is a(N) • • A. restrictive B. voiding a check C. stop payment order D. NSF check

The practice of marking a check that contains an error so that is will not be used is known as ___ • • A. restrictive B. voiding a check C. stop payment order D. NSF check

A check should be written before the check stub is filled out. • A. true • B. false

When a business received a check in payment for a product or service, it acquires the right to that check • A. true • B. false

Cash is a business most liquid asset. • A. true • B. false

Outstanding checks and voided checks are the most frequent causes for differences between the bank statement balance and the checkbook balance. • A. true • B. false

Checks written in pencil are acceptable. • A. true • B. false

A stop payment order and voiding a check mean the same thing. • A. true • B. false

An example of an internal control is the daily deposit of cash receipts in the bank. • A. true • B. false