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Kinns Chapter 23

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CHAPTER

22

Banking Services and Procedures
Vocabulary Review
Fill in the blanks with the correct vocabulary terms from this chapter. 1. Judy was unaware that checks were processed through at her bank. before they arrived

2. Because Alicia was the person who wrote the check, she was considered to be the . 3. When the Blackburn Clinic purchased the ultrasound machine, they paid $10,000 toward the so that they would be charged less interest. 4. Pamela wrote a check to Samantha, so Pamela is the . and Samantha is the

5. The of a check is the person who is presenting it for payment and may not be the person named as the payee. 6. Grace studied the , which is a series of laws that regulates sales of goods, commercial paper, secured transactions in personal property, and many aspects of banking. 7. First National Bank is considered the accounts. for Dr. Lupez’ business checking .

8. Instruments that are legally transferable to another party are considered 9. Rhonda made several and order supplies.

from the clinic checking account to pay monthly bills

10. As soon as the monthly bank statement arrives, Rhonda does a to make certain that the statement and checkbook balance are in agreement.

Copyright © 2007, 2003 by Saunders, an imprint of Elsevier Inc. All rights reserved.

283

284

22

BANKING SERVICES AND PROCEDURES

Skills and Concepts
Part I: Short Answer Questions Provide the answers to the questions in the blanks below. 11. List the four requirements of a negotiable instrument. a. b. c. d. 12. Name several advantages to online banking.

13. Why is customer service such an important aspect of today’s medical offices?

14. List seven types of checks. a. b. c. d. e. f. g. 15. Describe each type of endorsement. a. blank

b. restrictive

c. special

d. qualified

Copyright © 2007, 2003 by Saunders, an imprint of Elsevier

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