Accounting I: Chapter 5

Bank Statement
A report of deposits, withdrawals, and bank balances sent to a depositor by a bank
Blank Endorsement
An endorsement consisting only of the endorser’s signature
Checking Account
A bank account from which payments can be ordered by a depositor
Code of Conduct
A Statement that guides the ethical behavior of a company and its employees
Debit Card
A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder
Dishonored Check
A check that a bank refuses to pay
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Electronic Funds Transfer (EFT)
A computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents
A signature or stamp on the back of a check, transferring ownership
Petty Cash
An amount of cash kept on hand and used for making small payments
Petty Cash Slip
A form showing proof of a petty cash payment
Postdated Check
A check with a future date on it
Restrictive Endorsement
An endorsement restricting further transfer on a check’s ownership
Special Endorsement
An endorsement indicating a new owner of a check