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Chapter 17
Checking Accounts
| Question | Answer |
|---|---|
| What term means, a system set up by the federal government to suprevise and regulate? | Federal Reserve System |
| What term means, the most common way for a bank to be organized? | Commerical Bank |
| What term means, a user-owned, not-for-profit, cooperative financial institution? | Credit Union |
| What term means, the federal agency that helps to regualte banks and other financial institutions? | Federal Deposit Insurance Corporation |
| What term means, well-guardsed vaults for storage of valuables offered by banks? | Safe-Deposit Boxes |
| What term means, the fee a bank charges for handling a checking account? | Service Charge |
| What term means, a card used for ATM transactions, It is issued by your bank, and you are using money that is in your account? | Depit Card |
| What term means, written evidence that a person received payment or transferred the right to receive payment to someone else? | Endorsement |
| What term means, a separate book, usually the same size as the checkbook, for recording account activities? | Check Register |
| What term means, a written notice that tells the bank not to pay a certain check? | Stop payment order |
| What term means, a report on the staus of a bank account? | Bank Statement |
| What term means, the document created to show how the two balances (your own record of your checking account and the banks's record of your account) were brought into agreement? | Bank Reconciliation |
| What term means checks that have not been deducted from the bank statement balance? | Outstanding Checks |
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jacobsen616
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