To Keep Yourself from Using Your Credit Card,you Should

question 31

Multiple Choice

To keep yourself from using your credit card,you should

• A)destroy it.
• B)hide it.
• C)leave it at home.
• D)keep it in your wallet.

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the payer's ledger but have not yet been cashed or processed by the recipient's bank.

Checks Presented

Refers to the cheques that have been submitted for payment by the payee to the bank but have not yet been cleared.

Checks Written

The act of creating checks as payments for expenses, purchases, or obligations by a business or individual.

Bank Reconciliation

The process of matching and comparing figures from banking statements with those in a company’s financial records to ensure accuracy.