Cfl Unit 2 Vocab Questions And Answers
With Verified Solutions 100% Correct!!!
ATM-Rule - ANSWER✔✔Never tell your access code or PIN to anyone
bounced check - ANSWER✔✔a check written for an amount more than in your
account
Check 21 - ANSWER✔✔The Check Clearing for the 21st Century Act; it allows
the conversion of a paper check to an electronic image that can be quickly
processed between banks.
Check register - ANSWER✔✔The book in which you keep records of checks,
deposits, debit card transactions, and ATM withdrawals.
credit - ANSWER✔✔An arrangement to receive cash, goods, or services now and
pay for them in the future.
Credit Union - ANSWER✔✔A nonprofit financial institution that is owned by its
members and organized for their benefit.
Debits - ANSWER✔✔increase assets and decrease liabilities
default - ANSWER✔✔failure to pay back a loan
Electronic fund transfer - ANSWER✔✔Banking method in which computers and
electronic technology are used as a substitute for checks and other paper forms of
banking
With Verified Solutions 100% Correct!!!
ATM-Rule - ANSWER✔✔Never tell your access code or PIN to anyone
bounced check - ANSWER✔✔a check written for an amount more than in your
account
Check 21 - ANSWER✔✔The Check Clearing for the 21st Century Act; it allows
the conversion of a paper check to an electronic image that can be quickly
processed between banks.
Check register - ANSWER✔✔The book in which you keep records of checks,
deposits, debit card transactions, and ATM withdrawals.
credit - ANSWER✔✔An arrangement to receive cash, goods, or services now and
pay for them in the future.
Credit Union - ANSWER✔✔A nonprofit financial institution that is owned by its
members and organized for their benefit.
Debits - ANSWER✔✔increase assets and decrease liabilities
default - ANSWER✔✔failure to pay back a loan
Electronic fund transfer - ANSWER✔✔Banking method in which computers and
electronic technology are used as a substitute for checks and other paper forms of
banking
