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FINANCIAL MATH QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
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FINANCIAL MATH QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
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FINANCIAL MATH QUESTIONS ANDANSWERS WITH SOLUTIONS 2024
Deposit - ANSWER Amount of money put into a bank account
Withdrawal - ANSWER An amount taken out of a bank account
Balance - ANSWER The amount of money in a bank account
Bank statement - ANSWER A statement from your bank listing all the transactions that have been
received on your account
Bank Reconciliation - ANSWER A statement made by you to compare the bank statement and the check
register to get an accurate balance in the account
To reconcile - ANSWER Obtain an agreement between 2 financial items by accounting for outstanding
items
Outstanding items - ANSWER A check, withdrawal, or deposit that is on your bank register but has not
yet made it through bank account
Check - ANSWER a written order directing the bank to deduct money from your checking account to
make a payment.
Checking - ANSWER a type of account that allows you to pay for goods and services with a written order
or a debit card instead of cash.
Check register - ANSWER a ledger where you record the deposits you made and the checks you've
written.
service charge - ANSWER the amount a bank charges you for handling your money transactions
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