1) How does the running balance method help in monitoring account activity? a) By automatically reconciling the bank statement b) By providing an update of the account balance after each transaction c) By allowing unlimited transactions without any recordkeeping d) By removing the need for bank reconciliation statements 2) What is the primary purpose of a cheque book? a) To withdraw cash from ATMs b) To make electronic payments c) To issue written orders for payment d) To transfer funds between accounts 3) Which card is directly linked to a bank account and deducts funds immediately from the account? a) Credit card b) Debit card c) Gift card d) None of the above 4) Which of the following statements is true about a credit card? a) It deducts funds directly from the linked bank account. b) It allows users to borrow money up to a certain limit. c) It is not accepted for online purchases. d) It has no interest charges. 5) What is the main difference between a debit card and a credit card? a) Debit cards have higher interest rates than credit cards. b) Credit cards allow users to spend beyond their available funds, while debit cards do not. c) Credit cards are linked directly to a bank account, while debit cards are not. d) None of the above 6) Which of the following statements best describes the running balance method? a) It involves updating the balance at the end of each month. b) It calculates the balance after each transaction by adding or subtracting the transaction amount from the previous balance. c) It relies on predicting future balances based on past transactions. d) It only considers the initial balance without accounting for subsequent transactions. 7) How does the running balance method differ from the normal end balance method in banking? a) The running balance method updates the balance after each transaction, while the end balance method only calculates the final balance. b) The running balance method is used for online banking, while the end balance method is used for traditional paper-based banking. c) The running balance method calculates balances for future dates, while the end balance method only considers current balances. d) The running balance method and the end balance method are synonymous terms. 8) What is online banking? a) A system for issuing physical cheques and making cash withdrawals from ATMs b) An electronic payment system enabling customers to conduct financial transactions through a bank's website c) A manual process requiring customers to visit bank branches for every transaction d) A service exclusively available to businesses of certain sizes and types 9) What is the primary advantage of online banking for businesses? a) Limited access to financial services b) Increased security risks c) Convenience and accessibility d) Higher transaction fees 10) Which of the following statements best describes a credit note in business transactions? a) A credit note is issued by a buyer to a seller to request a refund for overpaid invoices. b) A credit note is a document issued by a seller to a buyer, indicating that the seller owes the buyer money or credit for returned goods or services. c) A credit note is a form of payment issued by a bank to a customer for using a credit card. d) A credit note is a legal document provided by a supplier to confirm the creditworthiness of a customer. 11) What is one crucial step users should take to protect their online banking accounts from unauthorized access? a) Share login credentials with trusted family members so that they never forget them.  b) Use public Wi-Fi networks for online banking. c) Keep login credentials saved in the browser. d) Avoid sharing passcodes or login credentials with anyone, including friends or family. 12) Which of the following best describes branch banking? a) A type of banking where all transactions are conducted online without any physical branches b) A banking method where customers can only access their accounts through mobile apps c) A banking system where transactions are conducted primarily through a network of physical branch locations d) A banking model where transactions are carried out exclusively through automated teller machines (ATMs)

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