Podcast
Questions and Answers
Where are deposits typically entered on a bank statement?
Where are deposits typically entered on a bank statement?
- Both debit and credit sides
- Credit side (correct)
- Debit side
- Nowhere in the statement
What is the purpose of a bank statement?
What is the purpose of a bank statement?
- To provide a report of all banking transactions to the account holder (correct)
- To track only cheque transactions
- To list only withdrawals made from a bank account
- To show the balance carried over from the previous month
Why does the writer mention that the bank statement includes 'written proofs of each transaction'?
Why does the writer mention that the bank statement includes 'written proofs of each transaction'?
- To promote the use of cheques for all transactions
- To indicate that digital copies of transactions are not reliable
- To highlight the importance of keeping physical records of transactions (correct)
- To emphasize the security features of a bank statement
Based on the text, why might someone see a discrepancy between their synoptic journal and a bank statement?
Based on the text, why might someone see a discrepancy between their synoptic journal and a bank statement?
How often does a bank typically send out a bank statement?
How often does a bank typically send out a bank statement?
What information should be on a cheque according to the text?
What information should be on a cheque according to the text?
Why is it recommended to fill a withdrawal slip when withdrawing money?
Why is it recommended to fill a withdrawal slip when withdrawing money?
What should the issuer do to validate the information written on the back of a cheque?
What should the issuer do to validate the information written on the back of a cheque?
How long is a personal cheque typically cashable for?
How long is a personal cheque typically cashable for?
What additional information can be written on the back of a cheque apart from endorsing it?
What additional information can be written on the back of a cheque apart from endorsing it?
Why is it advisable for sole proprietors to make a copy of the deposit slip?
Why is it advisable for sole proprietors to make a copy of the deposit slip?
What is required to use Interac e-Transfer for business invoicing and payment needs according to the text?
What is required to use Interac e-Transfer for business invoicing and payment needs according to the text?
When should you use Interac e-Transfer according to the text?
When should you use Interac e-Transfer according to the text?
What does the Interac e-Transfer Request Money feature facilitate according to the text?
What does the Interac e-Transfer Request Money feature facilitate according to the text?
What is necessary for the recipient when receiving funds via Interac e-Transfer?
What is necessary for the recipient when receiving funds via Interac e-Transfer?
Can a person cash a personal cheque whenever they want to?
Can a person cash a personal cheque whenever they want to?
What does a person need in order to use Interac e-Transfer for business purposes?
What does a person need in order to use Interac e-Transfer for business purposes?
