Financial Literacy
Individual who purchases goods and services for personal use.
What is a consumer?
Item of value that is owned.
What is assets?
Review of financial records and statements to make sure the information is accurate as reported.
What is an audit?
Financial institution that receives, lends, exchanges, and safeguards money.
What is a bank?
Bank account used by depositors to accumulate money for future use.
What is a savings account?
State of the economy at a given time.
What is economic conditions?
Plan for the use of money over time based on goals, expenses, and expected income.
What is budgeting?
Money added to an employee's base pay.
What is a bonus?
Record of checks, ATM transactions, deposits, and charges on an account.
What is bank statement?
Ability for an individual to meet essential needs without taking on more debt than can be repaid.
What is a emergency fund?
Government program that provides financial benefits to eligible citizens based on their legal rights.
What is entitlement?
Summary of the amount of money received and the amount paid for goods and services during a specific period.
What is a cash flow statement?
Income that results from selling an asset for more than the purchase price.
What is capital gain?
Record of account deposits, withdrawals, checks, fees, and interest.
What is a check register?
Amount calculated using the principal plus the interest it earns.
What is compound interest?
Moral principles or beliefs that direct a person's behavior.
What is ethics?
Process of studying data with the goal of discovering new information that can help making decisions.
What is data analysis?
Income paid as a percentage of sales made by a salesperson.
What is commission?
Business in which the primary function is to receive, transfer, and lend money to individuals, businesses, and governments.
What is a commercial bank?
Financial institution that facilitates the purchase and sale of financial securities by buyers and sellers and savings accounts can be opened.
What is a brokerage firm?
Ability to understand basic topics related to finance.
What is financial competence?
Money that remains after a person has paid all expenses.
What is discretionary income?
Individual who relies on someone else for financial support.
What is dependent?
Nonprofit financial cooperative owned by and operated for the benefit of its members.
What is a credit union?
What is annual percentage yield (APY)?