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Unit 2 Cfl Questions Anda Swers With Verified Solutions 100% Correct Rated A+

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Unit 2 CFL QUESTIONS ANDA SWERS WITH VERIFIED SOLUTIONS 100% CORRECT RATED A+

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Unit 2 CFL QUESTIONS ANDA SWERS
WITH VERIFIED SOLUTIONS 100%
CORRECT RATED A+
T/F A Valid ID to open a checking account can be a High School ID -
ANSWER✔✔False


T/F To endorse a check you have to sign the back - ANSWER✔✔True


What are 3 reasons to save money - ANSWER✔✔Emergency, Future purchases,
Investment


What is the purpose of the Patriot Act - ANSWER✔✔Collect certain information
to open a checking account


What is the mathematical formula that would describe the financial activity on a
bank statement - ANSWER✔✔Ending balance = previous balance + deposits -
withdrawl


How is credit different from debit - ANSWER✔✔Credit has money taken out at a
later date


What is a safety deposit box used for - ANSWER✔✔Used to store valuables in a
bank


T/F You can deposit money into your checking account by using an ATM -
ANSWER✔✔False

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