Terms and Definition
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| Check | A written order instructing a financial institution to pay immediately on demand a specified amount of money from the check writer's account to the person named
🗑
|
||||
| Cashier’s check | A check drawn on the funds of the bank, not against the funds in a depositor's account
🗑
|
||||
| Certified check | A personal check drawn by an individual that is certified to be good
🗑
|
||||
| Cancelled check | A check that a bank has paid, charged to the account holder's account, and then endorsed
🗑
|
||||
| Outstanding check | a check written by a depositor that has not yet been presented for payment to or paid by the
depositor's bank.
🗑
|
||||
| Floating a check | The amount of time between when an individual writes and submits a check as a payment
🗑
|
||||
| Checkbook register | Is usually part of the general ledger, and is used to record financial transactions in cash.
🗑
|
||||
| Check Endorsement | Both parties agree to this and the account information included on the back of a check acknowledges that the intended recipient received the document and deposited it
🗑
|
||||
| Overdraft | The amount of money withdrawn from a bank account is greater than the amount actually available
🗑
|
||||
| Overdraft protection | It is usually a line of credit that banks offer to their customers to cover their overdrafts
🗑
|
||||
| Stop payment order | It Is a request to cancel a payment made and which it hasn’t been fully processed
🗑
|
||||
| Demand deposit | a deposit of money that can be withdrawn without prior notice
🗑
|
||||
| Deposit in transit | that a company has received and is rightfully reported as Cash on its balance sheet but doesnt show til later
🗑
|
||||
| Reconciliation | The process of analyzing two related records and, if differences exist between them, finding the cause and bringing the two records into agreement
🗑
|
||||
| Money market account | It is used by the participants as a way of borrowing and lending for the short term.
🗑
|
||||
| Liquidity | the availability of liquid assets (money) to a market or company
🗑
|
||||
| Interest | money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt
🗑
|
||||
| Share account | are liquid accounts for payments and everyday spending, they are also used to pay dividends
🗑
|
||||
| Principal | may be part of a monthly payment that reduces the outstanding balance of a loan
🗑
|
||||
| . Compound interest | is the addition of interest to the principal sum of a loan or deposit
🗑
|
||||
| Certificate of deposit | they tend to pay more than savings accounts and money market accounts but you don’t touch it for a certain amount of time to build interest
🗑
|
||||
| Maturity | Is the date on which the principal amount of a note, draft, acceptance bond or another debt instrument becomes due and is repaid to the investor
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
nicholaselk339
Popular Finance sets