Glencoe Accounting

Chapter 10: Completing the Accounting Cycle for a Sole Proprietorship

Making It Personal

Bank of America

The transactions that you expect to occur in your checking account each month will often dictate what type of account you open. If you prefer to use ATMs or electronic banking, certain types of checking accounts might be better suited to you. For people who write a lot of checks each month, a checking account with unlimited check writing would be important. Take a look at the variety of checking accounts offered at Bank of America, and consider how each account meets different needs.

Destination Title: Bank of America

www.bankofamerica.com

Guided Activity

Start at the Bank of America Web site. Record your answers to these questions separately.

1. Click Personal in the top navigation bar. Select Checking Accounts from the Checking & Savings section. List four kinds of checking accounts that Bank of America offers.

Use the Compare checking accounts option to answer questions 2 and 3.

1. Which account(s) require the least amount of money to open?
2. Which account(s) offer free online banking service?
3. If you wanted to open a checking account with Bank of America, which account would best suit your needs?