In your Do Now notebook write down the following questions and your answer for each question.
This is a Pre-Assessment and you need to answer each question to the best of your ability.
Remember, this is a PRE-Assessment.
The purpose of it is to show your teacher what you know,
where new learning should be focused and, miss-conceptions need to be addressed.
Just do your best.
Chapter 5.1 Pre-Assessment
1. A canceled check is one that has been processed by the bank.
a. True
b. False
2. Floating a check is illegal in most states.
a. True
b. False
3. Writing a future date on a check is called postdating.
a. True
b. False
4. Paying bills online is generally considered slower and riskier than writing checks.
a. True
b. False
5. When depositing a check into your account, you should write the check’s ABA number on the deposit slip.
a. True
b. False
6. The column headed by a check mark in a checkbook register is provided so you can make a note of your checks that have bounced.
a. True
b. False
7. You should reconcile your checking account as soon as you receive your bank statement.
a. True
b. False
8. A check cannot be cashed until it has been reconciled.
a. True
b. False
9. A joint checking account can be opened by two or more people.
a. True
b. False
10. A money order can never bounce.
a. True
b. False