chapter 27
which of the following would be a reason to stop payment on a check
accept a check from a stranger
according to the law a check is payable on
demand
which of the following is not written in the checkbook register
name of the financial institution
when accepting a check be sure to
obtain proper identification
a written notice for the drawer telling the bank not to pay a certain check is a
stop payment order
a certified check is
a personal check for which a bank has guaranteed payment
drawee refers to
bank or other financial institution
an example of an electronic funds transfer is
banks are instructed to automatically take funds out of an account, employer pays the salary directly to the employees account, moves funds from an ATM
the 2 types of forms used in recording account activities are... and ...
cash register and cash stub
which of the following does not appear on a check
cashier
a check that a bank draws on its in house funds in called a... check
cashier's
which of the following is a check that a bank draws on its own in house funds
cashier's check
a ... check is a personal check for which a bank has guaranteed payment
certified
a post dated check refers to a check that is
dated later than the date on which it is written
... has eliminated payroll checks for many companies
direct deposit
the... is the bank or financial institution that pays the check
drawee
a cashier's check is commonly used when people travel to other countries
false
overdrawing a checking account is commonly recommended by financial advisers
false
the payee of the check is the bank of financial institution
false
using a post dated check is a common business practice
false
a person who writes names on unauthorized checks is a
forger
writing another persons signature on a check without his or her permission is
forgery
writing another persons signature with his or her permission is
forgery
a person who does not have checking account who needs to send money out of state would probably use a
money order
a person without a checking account who needs to send money to a company in another state would probably use
money order
... is writing a check for more than you have in your account
over drawing
writing checks for more than the amount deposited in an account is called
over drawing
which of the following checks may not be guaranteed by the financial institution
personal check
a travelers check
personal form for the traveler to use in making payments
which of the following sources does not sell money orders
restaurant
if a check is lost, you should consider completing a
stop payment order
a... money order is sent when money must be delivered quickly
telegraphic
which of the following is a correct statement
you may be charged a fee for a stop payment check
the person to whom a check is written is the
payee
a certified check is a personal check for which the bank has guaranteed payment
true
a stop payment order may be used if a check is lost or stolen
true
forgery is a crime
true
money orders are issued by various agencies and financial institutions
true
the drawer is the owner of a checking account
true
travelers check require the user to sign the check twice
true
a good check writing tip is
write checks in ink, write checks only on forms provided by the bank, write checks only if you have money in your account to cover them
overdrawing is
writing checks for more than you have in your account