Banzai Post Test questions with complete top solutions

Banzai Post Test questions with complete top solutions A sum of money to be used for a particular purpose. A budget is.... Like a credit card, but it takes money directly from your checking account. A debit card is... A card that allows you to purchase now and pay later and charges interest on the unpaid balance. A credit card is... An account where the depositor can write checks. A checking account is... An account where money is stored and returns a low interest rate. A savings account is... Budget it by splitting it amongst your current and future expenses. You have $200. How do you keep track of it? Debt What's it called when you spend more than you have? It's a safe place to store money. It lets you use a debit card. It makes it easy for you to pay others-and for others to pay you. Why open a checking account? Add "Entertainment" to your budget and allocate some cash there each week. You're dying to see The Flaming Eyelashes in concert this summer. What's the best way to cop a few tickets? $18.49 You want to treat your BFF to some sushi. The total comes to $15.41. If you add on a 20 percent tip, what's lunch going to cost you? $18.49 $19.00 $17.43 $15.41-you don't leave a tip. $254.95 Your account statement arrived. You had a balance of -$52.79. After the $307.74 deposit from Roland's Bookstore, what is your new account balance? $104.95 Oh no! You completely forgot that you wrote a check for $150.00 on January 11th for a speeding ticket. The statement above was printed before the check cleared. How much money is really in your account? No You see a pair of jeans at the mall for $109.92. Now with your updated statement, can you afford this purchase? $950.00 What is the total amount of debits for the statement below? poor question A fee for overspending. On January 8th your account was charged $30.00 for an overdraft fee. What is an overdraft fee? To pay federal and state taxes. Why does your employer withhold money from you on each paycheck? electric and heating bills. What's an example of a utility cost? Declined What happens if you try to use your credit card after you've already met your credit limit? Gas, insurance, maintenance. Which of the following are necessary costs of car ownership? Reserves 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 budget? Deposit A _________ is an amount of money placed into a savings or checking account. Overdraft An _________ occurs when withdrawals have gone over the available amount. Cleared Check A is a check that has been honored and processed. Withdrawal A _________ is an amount removed from a savings or checking account. Statement A __________ is a document published by your bank or credit union that details all transactions for the month.