Question

1. a bad check is a check that:

a. is written in the wrong color
b. is written to the wrong person
c. cannot be paid because there is not enough money in the account
d. is older than one year

1. a bank is best described as:

a. a place where people trade goods
b. a financial institution that accepts deposits and makes loans
c. a government agency
d. a type of credit card

1. barter means to:

a. pay with cash
b. use a debit card
c. exchange goods or services without using money
d. deposit money into a bank

1. a check is:

a. a type of loan
b. a written order to a bank to pay money from an account
c. a receipt from a store
d. an electronic payment only

1. a checking account is used mainly to:

a. save money long - term
b. earn high interest
c. pay bills and make frequent withdrawals
d. buy stocks

Explanation:

1. A bad check (or bounced check) occurs when the account lacks sufficient funds to cover the check amount.
2. A bank's core function is accepting deposits and issuing loans as a financial institution.
3. Barter is the direct exchange of goods/services without currency.
4. A check is a formal written instruction to a bank to release funds.
5. Checking accounts are designed for regular, frequent transactions like bill payments.

Answer:

1. C. Cannot be paid because there is not enough money in the account
2. B. A financial institution that accepts deposits and makes loans
3. C. Exchange goods or services without using money
4. B. A written order to a bank to pay money from an account
5. C. Pay bills and make frequent withdrawals