Shared Flashcard Set

Details

Cash Control Systems
Acct.
12
Accounting
12th Grade
10/27/2006

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Cards

Term
checking account
Definition
a bank account from which payments can be ordered by a depositor.
Term
endorsement
Definition
a signature or stamp on the back of a check tranferring ownership.
Term
blank endorsement
Definition
an endorsement consisting only of the endorser's signature.
Term
special endorsement
Definition
an endorsement indicating a new owner aof a check.
Term
restrictive endorsement
Definition
an endorsement restricting further transfer of a check's ownership.
Term
postdated check
Definition
a check with a future date on it.
Term
bank statement
Definition
a report of deposits, withdrawals, and bank balances sent to a depositor by a bank.
Term
dishonored check
Definition
a check that a bank refuses to pay.
Term
electronic funds transfer
Definition
a computerized cash payments system that uses electronic impulses to transfer funds.
Term
debit card
Definition
a bank card that, when making purchases, automatically deducts the amount of the purchase from the checking account of the cardholder
Term
petty cash
Definition
an amount of cash kept on hand and used for making small payments.
Term
petty cash slip
Definition
a form showing proof of a petty cash payment.
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