Match the following banking terms with the correct definition 1. Automated teller machine (ATM). 2. Bank statement.

Question:

Match the following banking terms with the correct definition 

1. Automated teller machine (ATM). 

2. Bank statement.

 3. Canceled check. 

4. Check. 

5. Credit memorandum. 

6. Debit memorandum. 

7. Deposit slip. 

8. Depositor. 

9. Electronic funds transfer (EFT). 

10. Endorsement. 11. Maker. 

12. Payee. 

13. Payer. 

14. Signature curd.

________ a. A check that has been paid by the bank on behalf of the depositor. 

________ b. A disbursement system that uses wire, telephone, or computers to transfer cash balances from one location to another. 

________ c. A document provided by the bank that requires the signature of all authorized signers of checks. 

________ d. A document provided by the bank which depositors use to list all deposits (including cash and checks) made into a checking account. 

________ e. A machine that allows a depositor to make transactions such as deposits and withdrawals. 

________ f. A monthly statement from the bank that shows the depositor’s bank transactions and balances.

________ g. A written order signed by a bank depositor, directing the bank to pay a specifi ed sum of money to a designated recipient. 

________ h. Amounts that are added to a depositor’s account.

 ________ i. Amounts that are deducted from a depositor’s account. 

________ j. The bank on which the check is drawn (also referred to as the drawee). 

________ k. The depositor writes or stamps his name on the back of the check for deposit.

________ l. The entity (company or person) to whom the check is payable. 

________ m. The issuer of the check (also referred to as the drawer) who directs the bank to pay a specifi ed sum of money to the payee. 

________ n. The person or company who opens a checking account; a customer of the bank.


Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

College Accounting

ISBN: 1986

1st Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell

Question Posted: