Your checkbook includes a check (__________)
to help you keep track of deposits, withdrawals,
and transfers. Your balance tells you how much
money is actually in your account.
A register
B balance
C deposit
D report
A register
is this true
Yes, it is true. A checkbook register is a tool that is used to keep track of deposits, withdrawals, and transfers made from a bank account. The balance in the register tells the account holder how much money they have available in their account.
The correct answer is A) register.
A check register is a booklet or log that helps you keep track of your financial transactions, such as deposits, withdrawals, and transfers. It is typically included with your checkbook. Each time you write a check, make a deposit, or withdraw money, you record the details in the check register.
The purpose of a check register is to help you maintain an accurate record of your transactions and to reconcile your bank statement. By regularly updating your check register, you can keep track of your balance and ensure it matches the bank's records. This helps you avoid overdrawing your account, assess your spending habits, and maintain financial awareness.
So, the check register helps you keep track of your deposits, withdrawals, and transfers, whereas the balance is the actual amount of money in your account at any given time, reflecting the cumulative effect of all your transactions.