AnswersOC27 Economics-2102310-Sem-MeadowsBanking: How to Manage Your Money

3.3 Banking: How to Manage Your Money Answers

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Which statement best describes the lesson we can learn from Lupe's experience?

A
It’s too much work to open a checking account.
B
It’s only important to track large amounts in personal records.
C
It’s important to keep accurate records.
D
It’s best to use only one document to track spending.
27225
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Number or codeDescriptionPayment amount✔ Deposit amount

A
Number or code
B
Description
C
Payment amount
D
✔ Deposit amount
27226

Question text not available

Answers:
Lupe used her debit card to buy a pair of jeans. She should write the name of the store in the column and the amount in the column.:Description
Lupe used her debit card to buy a pair of jeans. She should write the name of the store in the column and the amount in the column.:Payment amount
27227

Number or codeDescription✔ Payment amountDeposit amount

A
Number or code
B
Description
C
✔ Payment amount
D
Deposit amount
27231

⇒ 75.00

Answer:

75.00

27232

Lupe is a student who wants to open a bank account.Which type of bank is most likely the best option for her needs?

A
a retail bank
B
a savings and loan
C
a commercial bank
D
an investment bank
27233

Lupe wants an account into which she can deposit her paychecks.She also wants to use the money in her account to pay for her expenses.Which type of account is most likely best for her?

A
CD
B
checking account
C
savings account
D
money market account
27234

Lupe is ready to open a checking account.What does she need to have when she goes to the bank? Check all that apply.identificationher most recent bank statementher Social Security numberproof that she is a studentproof of her addressmoney to deposit

A
identification
B
her most recent bank statement
C
her Social Security number
D
proof that she is a student
E
proof of her address
F
money to deposit
27235

Study the entries in Lupe’s records in the CloseReader.For which entry was the amount recorded in the wrong column?

A
the purchase at Gio’s Pizza
B
the 11/15 paycheck
C
the 11/30 paycheck
D
the purchase at Lola’s Books
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Compare the entries in Lupe’s records with the entries on the bank statement.What other mistake did Lupe make?

A
She recorded a transaction twice.
B
She forgot to record a transaction.
C
She wrote the wrong amount for a transaction.
D
She made a math error when calculating her balance.
27237

Study the entries in Lupe's records and bank statement.What is the first action Lupe should take when she discovers a difference between her records and the bank's records?

A
She should check her own records to see if she made a mistake.
B
She should go to her bank and ask to discuss her account with a bank officer.
C
She should contact the police about possible theft.
D
She should call the bank to have the charge taken off her account.
27238

Which statement best describes the lesson we can learn from Lupe's experience?

A
It’s too much work to open a checking account.
B
It’s only important to track large amounts in personal records.
C
It’s important to keep accurate records.
D
It’s best to use only one document to track spending.
27239

Number or code✔ DescriptionPayment amountDeposit amount

Answers:
Lupe used her debit card to buy a pair of jeans. She should write the name of the store in the column and the amount in the column.:Description
Lupe used her debit card to buy a pair of jeans. She should write the name of the store in the column and the amount in the column.:Payment amount

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