Match the Following Terms with Their Definitions

question 34

Multiple Choice

Match the following terms with their definitions.
-ATM

• A)Document that records deposit
• B)Added to bank balance
• C)Used in mobile banking
• D)Automatic teller machines
• E)One to receive amount of check
• F)Bank adds to your account
• G)Record keeping device
• H)Bounced check
• I)Check must be deposited to payee's account
• J)A report sent by bank
• K)Total credit card sales minus credit accounts
• L)Identifies to whom check is to be transferred
• M)Bank is charging your account
• N)No restrictions
• O)One who writes a check
• P)Eliminates the use of paper checks
• Q)Signing back of checks
• R)Comparing bank balance to checkbook balance
• S)Not processed by bank yet

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Definitions:

Debtor

A person or entity that owes money to another, typically as the result of a loan or other financial agreement.

Compounded Quarterly

The process by which interest is calculated and added to the principal sum of a loan or deposit four times a year.

Fifty-Fifty Sale

A promotional pricing strategy where items are offered for sale at a discount presumed to be 50% off their original price.

Conditional Sale Contracts

A conditional sale contract is a financing arrangement where the buyer gains possession and use of an asset, but title and ownership remain with the seller until the full purchase price is paid.