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5 Written Questions

1. an authorised signature written or stamped on the back of a cheque representing a promise to pay
2. a person or business that has cash on deposit in a bank
3. the bank on which the cheque is written
4. a cheque returned to the depositor by the bank because there are not sufficient funds in the drawer's chequing account to cover the cheque
5. writing the word "Void" in large letters across the front of a cheque

5 Matching Questions

1. drawer
2. cheque
3. internal controls
4. electronic funds transfer system
5. signature card

1. a allows banks to transfer funds among accounts quickly and accurately without the exchange of cheques
2. b the steps the business takes to protect cash and other assets
3. c a written order from a depositor telling the bank to pay a stated amount of cash to the person or business named on it
4. d the person who signs a cheque
5. e to open a chequing account, a business owner fills one out and deposits cash in the bank

5 Multiple Choice Questions

1. an itemised record of all the transactions in a depositor's account over a given period, usually a month
   1. endorsement
   2. payee
   3. bank statement
   4. drawee
2. cheques that have been written but have not yet been presented to the bank for payment
   1. outstanding cheques
   2. outstanding deposits
   3. canceled cheques
   4. voiding a cheque
3. a bank form listing the cash and cheques to be deposited
   1. deposit slip
   2. payee
   3. depositor
   4. drawee
4. the person or business to whom a cheque is written
   1. drawee
   2. payee
   3. cheque
   4. drawer
5. limits, or restricts, how a cheque may be handled
   1. endorsement
   2. bank statement
   3. restrictive endorsement
   4. stop payment order

5 True/False Question

1. outstanding deposits → deposits that have been made and are recorded in the chequebook but not appear on the bank statement
   

   True        False

2. stop payment order → a demand by the drawer that the bank not honour a certain cheque
   

   True        False

3. chequing account → a written order from a depositor telling the bank to pay a stated amount of cash to the person or business named on it
   

   True        False

4. canceled cheques → a cheque returned to the depositor by the bank because there are not sufficient funds in the drawer's chequing account to cover the cheque
   

   True        False

5. external controls → the steps the business takes to protect cash and other assets
   

   True        False