A budgetis...

  • The same thing as a savings account.
  • A sum of money to be used for a particularpurpose.
  • A list of things youwant.

A debit cardis...

  • Like a credit card, but it takes money directly from your bankaccount.
  • A card that lets you buy goods and services based on a promise to paylater.
  • A card which you may only make online purchaseswith.

A credit cardis...

  • A card that lets you buy goods and services based on a promise to paylater.
  • A card that charges monthly interest if the balance is not paid infull.
  • Both answers A andB.

A checking accountis...

  • A sum of money to be used for a particularpurpose.
  • A share in a corporation that gives you a stake in the company and itsprofits.
  • A bank account where the depositor can writechecks.

A savings accountis...

  • Abankaccountwheremoneyisstoredandreturnsalowinterestrate.
  • The same thing as a checking account.
  • A bank account that allows you to borrow money at a rate ofinterest.

______is a check that is dishonored because of insufficientfunds.

  • OverdraftStatement
  • ClearedCheck
  • CheckRegister
  • BadCheck

______occurs when withdrawals have gone over the availableamount.

  • Overdraft
  • Statement
  • ClearedCheck
  • CheckRegister
  • BadCheck

______is a check that has been honored andprocessed.

  • Overdraft
  • Statement
  • ClearedCheck
  • CheckRegister
  • BadCheck

______is a record book used to keep track of alltransactions.

  • Overdraft
  • Statement
  • ClearedCheck
  • CheckRegister
  • BadCheck

______is a document published by your bank that details all transactions for the month.

  • Overdraft
  • Statement
  • ClearedCheck
  • CheckRegister
  • BadCheck

Your bank statement just arrived. Your account had a balance of -$52.79. Afterthe

$307.74 deposit from Rolands Bookstore, what is your new accountbalance?

  • $316.95
  • $256.92
  • $265.29
  • $254.95

Oh no! You completely forgot that you wrote a check for $150.00 dollars on Jan. 11 fora speeding ticket. The statement below was printed before the check cleared. Howmuch money is really in youraccount?

  • $316.95
  • $242.21
  • $104.95
  • $254.95

Knowing your balance, you see a pair of jeans at the mall for $109.92. Can youafford thispurchase?

  • Yes
  • No

What is the total amount of debits for the statement below?

  • $629.95
  • $800.00
  • $750.00

On Jan. 8 your account was charged $30.00 for an overdraft fee. What is an overdraft fee?

  • A fee for maintaining your account.
  • A state tax.
  • A fee for over spending.

When do you record a check in your check register?

  • When checks are written.
  • When Automated Teller Machine (ATM) withdrawals are made.
  • Both A and B are true.

You wrote a check for $400.00 to pay your rent, the $400.00 should be written in which section of your register?

  • The amount.
  • The number.
  • The deposit.

Your job paid you $1025.00 and you put all of the money into your account. Which section of your register would you record this?

  • The number.
  • The deposit.
  • Both A and B are true.

What item goes into the Number section of the register?

  • The number of items purchased.
  • The check number.
  • The number of checks you have written.

Your job paid you $1000.00. Your rent is $450.00, your car payment is $210.00, and your utilities bill is $90.00. What is the total amount of money left over?

  • $250.00
  • $300.00
  • $290.00
  • $260.00

You and your friends go out to eat at the Olive Garden. You want to pay for everyone, but your food jar doesn't have enough money in it to cover the meals. What do you do?

  • Take all the money from your food jar and take the rest out of your vacation jar.
  • Take all the money from your food jar and take the rest out of your car payment jar.
  • Take all the money from your food jar and take the rest out of your rent jar.

You see a new shirt in the mall and you just can't leave without it. The shirt is on sale for$100. You want to pay for it with your credit card but you only have $75 in your clothes jar. What do you do?

  • Don't buy the shirt. Wait until you have enough money in your clothes jar before using the credit card.
  • Take the money from your clothes jar and take the rest of the $25 out of your other expenses jar.
  • Take all of the money from your cell phone payment jar and leave the $75 in your clothes jar to buy more clothes another day.

You walk outside only to find that your car has been towed because you were parked illegally. You paid the towing company with a check and took this unexpected expense from which jar?

  • Entertainment
  • Utilities
  • Reserves

You go to the gas station to fill up and you pay with cash. Which jar do you take money from?

  • Food
  • Car
  • Other Expenses

You and your friends went to Cancun, Mexico for spring break. You spent all of the money in your vacation jar at the nice restaurants on the beach, but now you want to buy souvenirs for your family. What do you do?

  • Take money from your car jar and understand that you will have to use less gas for the month.
  • Take money from your hair jar and skip a hair appointment.
  • Take from your college savings jar knowing that you can replace the money another day.