XXII. Complete the sentences with the words from the list.

1. A much more common process for _____________________, especially large payment, is through the use of checks.

2. We use our money as ________________ to acquire goods and services.

3. By using checks, we are able to use the funds we hold as _________________ in financial institutions.

4. Checkable deposits represent money and serve as __________________.

5. There are _________________ where people deposit funds for a fixed, agreed-upon period of time.

6. Checks are a process by which to make payment and ________________ in the accounts.

7. Deposits represent _______________, the checks represent ____________.

8. In using __________________, you are activating a loan and borrowing funds to make a purchase.

XXIII. Choose the correct alternative to complete the sentences:

1. Money in notes and coins is called _________________.

a) cash

b) capital

c) reserves

2. Money borrowed from a bank is a _______________.

a) deposit

b) income

c) loan

3. Money placed in banks and other savings institutions constitutes ___________.

a) capital

b) deposits

c) finance

4. Regular part payments or debts are called ______________.

a) deposits

b) loans

c) installments

5. By presenting your _______________ to a retailer you enable the retailer to access your funds directly through a computer hook-up.

a) credit card

b) debit card

c) deposit

6. Written orders directing a bank to pay a person or business a specific sum of money are _______________.

a) checks

b) coins

c) cards

7. ________________ is an identification card that entitles the lawful owner to make purchases or credit.

a) debit card

b) credit card

c) cash