Definitions
A ________ is an investment created by pooling the money of multiple people and investing it in securities.
What is a mutual fund?
A ____ is the income received from employement, including self employment.
What is earned income?
An organization that aids those in need.
What is Charity?
It is a supply of something that can be used when needed.
What is a Resource?
The amount of time an individual spends at work compared to the amount of time spent in a personal life.
What is work life balance?
A______ is an organization that provides services related to money.
What is a financial institution?
____ the amount paid for working time in a week that is beyond the standard 40-hour workweek.
What is overtime wage?
Form of money received.
What is an Income?
External such as money, time, & equipment.
What is Nonhuman resources?
It is a report containing information used to calculate taxes owed by the taxpayer.
What is a tax return?
______ are businesses that provide certain financial services for a fee.
What is cash-checking?
A ____ is a fixed payment for work and is expressed as an annual figure.
What is a Salary?
A set amount that must be paid each budget period.
What is a fixed expense?
They include energy, knowledge, experience, skills, talents, motivation, imagination, and determination.
What is Human resources?
Means that the government expects individuals and businesses to voluntarily report all income that is subject to the income tax.
What is voluntary compliance?
A _____ is a business which primarlly function is to receive, transfer, & lend money to indiviuals, businesses, & governments.
What is a commercial bank?
An income paid as a percentage of sales made by a salesperson.
What is a commission?
Amount is spent on an item that a person can do without.
What is a discretionary expense?
An objective to be attained in a specific amount of time.
What is a goal?
This includes income from tips, gains from selling personal property, and income earned by independent consultants.
What is the Income Tax Return Basics?
A______ is a financial institution that offers most of the services commercial banks do.
What is a savings and loan association?
Money is added to an employee's base pay.
What is a bonus?
It is the development of a strategy to meet a person’s financial needs for a lifetime.
Is an established measure of quality, value, or quantity.
What is a standard?
Earnings from sources other than work.
What is Unearned income?