Question 1

Use the table to find the monthly checking-account service charge for the account.  
-Value Dry Cleaners, 81 checks, average balance $7,585

Accepted Answer

A) $8.10 
B) $5.00 
C) $0 
D) $13.10 
A) $8.10 
B) $5.00 
C) $0 
D) $13.10 C

Question 2

Answer the question or give an explanation.
-Describe at least four services a bank can provide to its business checking account customers.

Accepted Answer

1. Business loans: Banks can provide business checking account customers with access to loans to help them start or expand their business.

2. Merchant services: Banks can offer merchant services to help businesses accept credit card payments and manage their transactions.

3. Cash management: Banks can provide cash management services to help businesses efficiently manage their cash flow, including services such as remote deposit capture and lockbox services.

4. Business credit cards: Banks can offer business credit cards to their business checking account customers, providing them with a convenient way to make purchases and manage their expenses.

Question 3

Use the table to find the monthly checking-account service charge for the account.  
-Northwest Molded, 59 checks, average balance $4,845

Accepted Answer

A) $19.30 
B) $16.80 
C) $10.90 
D) $5.00 
A) $19.30 
B) $16.80 
C) $10.90 
D) $5.00 C

Question 4

Find the balance forward for the check stub.
-

Accepted Answer

A) $4,674.60 
B) $1,877.88 
C) $4,786.38 
D) $1,766.10 
A) $4,674.60 
B) $1,877.88 
C) $4,786.38 
D) $1,766.10

Question 5

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date.
-Bob's Bicycle Shop pays a 3% fee.

Accepted Answer

A) $841.65, $25.25 
B) $831.65, $24.95 
C) $1,036.83, $31.10 
D) $939.24, $28.18 
A) $841.65, $25.25 
B) $831.65, $24.95 
C) $1,036.83, $31.10 
D) $939.24, $28.18

Question 6

Find the balance forward for the check stub.
-

Accepted Answer

A) $4,277.92 
B) $3,613.40 
C) $4,134.57 
D) $3,224.46 
A) $4,277.92 
B) $3,613.40 
C) $4,134.57 
D) $3,224.46

Question 7

Reconcile the bank statement with the check register balance. Find the current balance.
-

Accepted Answer

A) $1,680.99 
B) $1,681.57 
C) $1,680.41 
D) $1,726.28 
A) $1,680.99 
B) $1,681.57 
C) $1,680.41 
D) $1,726.28

Question 8

Use the table to find the monthly checking-account service charge for the account.  
-Dagmar's Sandwiches, 46 checks, average balance $1,913

Accepted Answer

A) $16.70 
B) $9.60 
C) $21.20 
D) $14.20 
A) $16.70 
B) $9.60 
C) $21.20 
D) $14.20

Question 9

Answer the question or give an explanation.
-Name four posting or recording errors that can cause an unbalanced checking account.

Accepted Answer

Four common posting or recording errors

Question 10

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date.
-

Accepted Answer

A) $862.82, $43.14 
B) $781.76, $39.09 
C) $791.76, $39.59 
D) $933.88, $46.69 
A) $862.82, $43.14 
B) $781.76, $39.09 
C) $791.76, $39.59 
D) $933.88, $46.69

Question 11

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date.
-Cross Town Florists pays a 4% fee.

Accepted Answer

A) $702.41, $28.10 
B) $692.41, $27.70 
C) $812.14, $32.49 
D) $921.87, $36.87 
A) $702.41, $28.10 
B) $692.41, $27.70 
C) $812.14, $32.49 
D) $921.87, $36.87

Question 12

Answer the question or give an explanation.
-Explain the factors that determine the bank service charges on a business checking account.

Accepted Answer

Bank service charges on a business check

Question 13

Answer the question or give an explanation.
-List some advantages and disadvantages for a customer to use credit cards.

Accepted Answer

There are several advantages and disadva

Question 14

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date.
-Expressway Photo Developers pays a 2%.

Accepted Answer

A) $243.02, $4.86 
B) $253.02, $5.06 
C) $359.14, $7.18 
D) $306.08, $6.12 
A) $243.02, $4.86 
B) $253.02, $5.06 
C) $359.14, $7.18 
D) $306.08, $6.12

Question 15

Find the final balance in the check register.
-

Accepted Answer

A) $2,030.90 
B) $1,494.18 
C) $1,811.05 
D) $2,275.04 
A) $2,030.90 
B) $1,494.18 
C) $1,811.05 
D) $2,275.04

Question 16

Find the balance forward for the check stub.
-

Accepted Answer

A) $4,722.89 
B) $5,095.31 
C) $4,350.47 
D) $372.42 
A) $4,722.89 
B) $5,095.31 
C) $4,350.47 
D) $372.42

Question 17

Find the final balance in the check register.
-

Accepted Answer

A) $8,767.02 
B) $7,877.05 
C) $9,261.62 
D) $9,642.44 
A) $8,767.02 
B) $7,877.05 
C) $9,261.62 
D) $9,642.44

Question 18

Answer the question or give an explanation.
-Describe the effect on merchants and customers if credit card usage suddenly stopped.

Accepted Answer

If credit card usage suddenly stopped, i

Question 19

Reconcile the bank statement with the check register balance. Find the current balance.
-

Accepted Answer

A) $4,415.53 
B) $4,411.51 
C) $4,871.44 
D) $4,413.52 
A) $4,415.53 
B) $4,411.51 
C) $4,871.44 
D) $4,413.52

Question 20

Reconcile the bank statement with the check register balance. Find the current balance.
-

Accepted Answer

A) $5,443.53 
B) $4,723.81 
C) $5,427.50 
D) $5,459.56 
A) $5,443.53 
B) $4,723.81 
C) $5,427.50 
D) $5,459.56

Use the table to find the monthly checking-account service charge for the account. -Value Dry Cleaners, 81 checks, average balance $7,585

Answer the question or give an explanation. -Describe at least four services a bank can provide to its business checking account customers.

Use the table to find the monthly checking-account service charge for the account. -Northwest Molded, 59 checks, average balance $4,845

Find the balance forward for the check stub. -

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date. -Bob's Bicycle Shop pays a 3% fee.

Find the balance forward for the check stub. -

Reconcile the bank statement with the check register balance. Find the current balance. -

Use the table to find the monthly checking-account service charge for the account. -Dagmar's Sandwiches, 46 checks, average balance $1,913

Answer the question or give an explanation. -Name four posting or recording errors that can cause an unbalanced checking account.

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date. -

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date. -Cross Town Florists pays a 4% fee.

Answer the question or give an explanation. -Explain the factors that determine the bank service charges on a business checking account.

Answer the question or give an explanation. -List some advantages and disadvantages for a customer to use credit cards.

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date. -Expressway Photo Developers pays a 2%.

Find the final balance in the check register. -

Find the balance forward for the check stub. -

Find the final balance in the check register. -

Answer the question or give an explanation. -Describe the effect on merchants and customers if credit card usage suddenly stopped.

Reconcile the bank statement with the check register balance. Find the current balance. -

Reconcile the bank statement with the check register balance. Find the current balance. -

Whole Numbers and Decimals

Fractions

Percents

Equations and Formulas

Payroll

Mathematics of Buying

Mathematics of Selling

Simple Interest

Compound Interest and Inflation

Annuities, Stocks, and Bonds

Business and Consumer Loans

Taxes and Insurance

Depreciation

Financial Statements and Ratios

Budgeting and Business Statistics

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Exam 5: Bank Services

Use the table to find the monthly checking-account service charge for the account. -Value Dry Cleaners, 81 checks, average balance $7,585

Answer the question or give an explanation. -Describe at least four services a bank can provide to its business checking account customers.

Use the table to find the monthly checking-account service charge for the account. -Northwest Molded, 59 checks, average balance $4,845

Find the balance forward for the check stub. -

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date. -Bob's Bicycle Shop pays a 3% fee.

Find the balance forward for the check stub. -

Reconcile the bank statement with the check register balance. Find the current balance. -

Use the table to find the monthly checking-account service charge for the account. -Dagmar's Sandwiches, 46 checks, average balance $1,913

Answer the question or give an explanation. -Name four posting or recording errors that can cause an unbalanced checking account.

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date. -

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date. -Cross Town Florists pays a 4% fee.

Answer the question or give an explanation. -Explain the factors that determine the bank service charges on a business checking account.

Answer the question or give an explanation. -List some advantages and disadvantages for a customer to use credit cards.

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date. -Expressway Photo Developers pays a 2%.

Find the final balance in the check register. -

Find the balance forward for the check stub. -

Find the final balance in the check register. -

Answer the question or give an explanation. -Describe the effect on merchants and customers if credit card usage suddenly stopped.

Reconcile the bank statement with the check register balance. Find the current balance. -

Reconcile the bank statement with the check register balance. Find the current balance. -

Whole Numbers and Decimals

Fractions

Percents

Equations and Formulas

Payroll

Mathematics of Buying

Mathematics of Selling

Simple Interest

Compound Interest and Inflation

Annuities, Stocks, and Bonds

Business and Consumer Loans

Taxes and Insurance

Depreciation

Financial Statements and Ratios

Budgeting and Business Statistics

Filters