Question

To prevent theft of checks, always put the checkbook in a(n) _____ place when it is not in use and file deposit receipts promptly. If they are lost, you have no _____ of the deposit?

Answer 1

To prevent check theft, the checkbook should be stored in a secure location and deposit receipts filed quickly to maintain proof of transactions. This practice is essential for checkbook balancing and financial management.

Step-by-step explanation:

To prevent theft of checks, always put the checkbook in a secure place when it is not in use and file deposit receipts promptly. If they are lost, you have no proof of the deposit. Keeping your checkbook secure helps protect you from potential financial loss and fraud. Moreover, filing deposit receipts immediately allows you to have evidence of transactions which is crucial in balancing your checkbook. Balancing your checkbook is key to managing your money, monitoring your cash flow, and avoiding fees from overdrafts or insufficient funds. Checks and deposit receipts should be treated as sensitive financial documents and safeguarded accordingly.