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Ar Com Acct I - U3
Ark Comp. Acct. I - Unit 3 - Cash Control & Banking Procedures
| Question | Answer |
|---|---|
| electronic machine from which cash deposits and withdrawals can be made | Automated Teller Machine (ATM) |
| bringing into agreement a bank statement with a party's cash account records | bank reconciliation |
| a report of deposits, withdrawals, and bank balances sent to a depositor by a bank | bank statement |
| an endorsement that consists only of the endorser's signature on the back of a check | blank endorsement |
| a bank account from which payments can be ordered by a depositor | checking account |
| a bank card that automatically deducts the amount of the purchase from the checking account of the cardholder | debit card |
| a form prepared for the placement of cash (coins, bills, checks) into a checking account | deposit slip |
| a check that a bank refuses to pay | dishonored check |
| the use of a computer and telecommunications network to transfer funds from one party to another | Electronic Funds Transfer (EFT) |
| a system established by a business that keeps a small amount of cash on hand for making small payments | petty cash |
| an endorsement found on the back of a check restricting further transfer of a check's ownership | restrictive endorsement |
| an endorsement indicating a new owner of a check; also known as an endorsement in full | special endorsement |
Created by:
SherriLMay
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