Practical Business Math Procedures Jeffrey Slater 13th Edition – Test Bank

Practical Business Math Procedures Jeffrey Slater 13th Edition – Test Bank

Practical Business Math Procedures, 13e (Slater)

Chapter 4   Banking

1) ATMs have completely replaced the need for tellers.

Answer:  FALSE

Explanation:  Review your notes on terminology and vocabulary related to this material.

Difficulty: 1 Easy

Topic:  LU 04-02 Bank Statement and Reconciliation Process; Latest Trends in Mobile Banking

Learning Objective:  04-02 (1) Explain trends in the banking industry.

Bloom’s:  Remember

Type:  Static

Accessibility:  Keyboard Navigation

2) The payee is the person to whom the check is payable.

Answer:  TRUE

Explanation:  Review your notes on terminology and vocabulary related to this material.

Difficulty: 1 Easy

Topic:  LU 04-01 The Checking Account

Learning Objective:  04-01 (2) Correctly prepare deposit slips and write checks.

Bloom’s:  Remember

Type:  Static

Accessibility:  Keyboard Navigation

3) All checks are required to have a preprinted check number.

Answer:  TRUE

Explanation:  Review your notes on terminology and vocabulary related to this material.

Difficulty: 1 Easy

Topic:  LU 04-01 The Checking Account

Learning Objective:  04-01 (2) Correctly prepare deposit slips and write checks.

Bloom’s:  Remember

Type:  Static

Accessibility:  Keyboard Navigation

4) A check stub is completed after the check is written so records will be up to date.

Answer:  FALSE

Explanation:  A check stub is completed before the check is written.

Difficulty: 1 Easy

Topic:  LU 04-01 The Checking Account

Learning Objective:  04-01 (2) Correctly prepare deposit slips and write checks.

Bloom’s:  Remember

Type:  Static

Accessibility:  Keyboard Navigation

5) Mobile banking is increasing today.

Answer:  TRUE

Explanation:  Review your notes on terminology and vocabulary related to this material.

Difficulty: 1 Easy

Topic:  LU 04-02 Bank Statement and Reconciliation Process; Latest Trends in Mobile Banking

Learning Objective:  04-02 (4) Explain the trends in mobile banking.

Bloom’s:  Remember

Type:  Static

Accessibility:  Keyboard Navigation

6) Crediting an account by the bank means a decrease to that account.

Answer:  FALSE

Explanation:  Review your notes on terminology and vocabulary related to this material.

Difficulty: 1 Easy

Topic:  LU 04-02 Bank Statement and Reconciliation Process; Latest Trends in Mobile Banking

Learning Objective:  04-02 (2) Define and state the purpose of the bank statement.; 04-02 (3) Complete a check register and a bank reconciliation.

Bloom’s:  Remember

Type:  Static

Accessibility:  Keyboard Navigation

7) A blank endorsement is the safest type of endorsement.

Answer:  FALSE

Explanation:  Review your notes on terminology and vocabulary related to this material.

Difficulty: 1 Easy

Topic:  LU 04-01 The Checking Account

Learning Objective:  04-01 (1) Define and state the purpose of signature cards, checks, deposit slips, check stubs, check registers, and endorsements.

Bloom’s:  Remember

Type:  Static

Accessibility:  Keyboard Navigation

8) An endorsement may be in writing or by the use of a company stamp.

Answer:  TRUE

Explanation:  Review your notes on terminology and vocabulary related to this material.

Difficulty: 1 Easy

Topic:  LU 04-01 The Checking Account

Learning Objective:  04-01 (1) Define and state the purpose of signature cards, checks, deposit slips, check stubs, check registers, and endorsements.

Bloom’s:  Remember

Type:  Static

Accessibility:  Keyboard Navigation

9) A full endorsement is as safe as a restrictive endorsement.

Answer:  FALSE

Explanation:  Review your notes on terminology and vocabulary related to this material.

Difficulty: 1 Easy

Topic:  LU 04-01 The Checking Account

Learning Objective:  04-01 (1) Define and state the purpose of signature cards, checks, deposit slips, check stubs, check registers, and endorsements.

Bloom’s:  Remember

Type:  Static

Accessibility:  Keyboard Navigation