Multiple Choice Questions

What is one benefit of purchasing saving bonds?
  • checking one's financial records against the bank's
  • NOT: Checking accounts use debit cards for easy access to money.
  • Saving bonds are purchased from the government and guaranteed to increase in value.
  • Hafsa wants a guaranteed return, and won't need the money for several years.
What does reconciling an account involve?
  • Check Number, Description, Balance
  • checking one's financial records against the bank's
  • NOT: Checking accounts use debit cards for easy access to money.
  • Saving bonds are purchased from the government and guaranteed to increase in value.
This is a table that could be used to maintain a record of account transactions. It is similar to what is found in a checkbook ledger. Some of its column headings are missing. How should these columns be labeled?
  • checking one's financial records against the bank's
  • a commercial bank
  • NOT: Checking accounts use debit cards for easy access to money.
  • Check Number, Description, Balance
In which situation would a savings bond be the best investment to earn interest?
  • NOT: Checking accounts use debit cards for easy access to money.
  • Hafsa wants a guaranteed return, and won't need the money for several years.
  • Saving bonds are purchased from the government and guaranteed to increase in value.
  • if you are putting aside a chunk of money to purchase a house in five years
When Seb reconciles his accounts, what is the first step he should take?
  • checking one's financial records against the bank's
  • NOT: Checking accounts use debit cards for easy access to money.
  • Confirm his records are accurate and include all transactions.
  • to know how much money she has for budgeting
Glenn and Maggie own a regional chain of juice bars and are looking to expand in the coming year. They already have fifty shops, but they know they will need a loan to reach their goal of one hundred twenty five shops. Which type of banking institution is most suitable for Glenn and Maggie's business?
  • NOT: Checking accounts use debit cards for easy access to money.
  • a commercial bank
  • Check Number, Description, Balance
  • if you are putting aside a chunk of money to purchase a house in five years
Which of these is the best reason for Nina to maintain up-to-date and accurate records of her bank accounts?
  • Hafsa wants a guaranteed return, and won't need the money for several years.
  • to know how much money she has for budgeting
  • NOT: Checking accounts use debit cards for easy access to money.
  • if you are putting aside a chunk of money to purchase a house in five years
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Multiple Choice Questions
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