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Accounting-3
Arkansas Unit 3: Cash Control and Banking Procedures
| Question | Answer |
|---|---|
| Automated Teller Machine (ATM) | Electronic machine from which cash deposits and withdrawals can be made. |
| Bank Reconciliation | Bringing into agreement a bank statement with a party's cash account records. |
| Bank Statement | A report of deposits, withdrawals, and bank balances sent to a depositor by a bank. |
| Blank Endorsement | An endorsement that consists only of the endorser's signature on the back of a check. |
| Checking Account | A bank account from which payments can be ordered by a depositor. |
| Debit Card | A bank card that automatically deducts the amount of the purchases from the checking account of the cardholder. |
| Deposit Slip | A form prepared for the placement of cash (coins, bills, checks) into a checking account. |
| Dishonored Check | A check that a bank refuses to pay. |
| Electronic Funds Transfer (EFT) | The use of a computer and telecommunications network to transfer funds from one party to another. |
| Petty Cash | A system established by a business that keeps a small amount of cash on hand for making small payments. |
| Restrictive Endorsement | An endorsement found on the back of a check restricting further transfer of a check's ownership. |
| Special Endorsement | An endorsement including a new owner of a check; also known as a endorsement in full. |
Created by:
michrob15
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