Self Assessment Quizzes

CHAPTER 11: Section 1 Banking Procedures

	1.	The practice of marking a check that contains an error so that it will not be used is called

		a.	a stop payment order
		b.	voiding a check
		c.	reconciling a check
		d.	electronic fund transfer

	2.	An ABA number is a code that identifies the

		a.	bank
		b.	depositor
		c.	recipient
		d.	business

	3.	Steps taken by a business to protect cash and other assets are called

		a.	external controls
		b.	internal controls
		c.	asset protection
		d.	insurance

	4.	A written order from a depositor telling a bank to pay a stated amount of cash to the person or business named on the order is called a

		a.	cash order
		b.	cash request
		c.	check
		d.	authorized order

	5.	The permanent record of a check is called the

		a.	drawer
		b.	stub
		c.	general ledger
		d.	checkbook

	6.	The bank on which a check is written is the

		a.	drawer
		b.	depositor
		c.	drawee
		d.	payee

	7.	The person who signs a check is the

		a.	drawer
		b.	depositor
		c.	drawee
		d.	payee

	8.	The person or business to whom the check is written is called the

		a.	drawer
		b.	depositor
		c.	drawee
		d.	payee

	9.	The transfer of ownership of a check is done by

		a.	mail
		b.	the bank clerk
		c.	cashing the check
		d.	endorsement