Fill in the Blank
Intrest is money paid by a _______ in exchange for using a lender's money for a certain period of time.
What is a borrower?
Paper money & coins.
What is cash?
A slip of paper that is filled out to allow a bank to take money from a checking account to pay for a purchase.
What is a check?
A yearly federal tax on a person's earnings.
What is income tax?
This government is larger then local government and is located in the capital city of a state
What is the state government?
A check is a slip of paper that is filled out to allow a bank to take money from a _________ ________ to pay for a purchase.
What is a checking account?
Money placed into a checking or savings account in a bank.
What is a deposit?
The total amount of money in a bank account at any given time.
What is a balance?
A yearly tax on homes, land, and other property that helps pay for local needs such as schools, firefighters, etc.
Property Tax
The availability of a product is high in week one and sells out in week two. Week two is an example of ______.
What is scarcity?
______ are activities performed by people or businesses that satisfy other people's wants or needs.
What are services?
When products are in stock and are able to be purchased easily.
What is availability?
An amount of money subtracted from a bank account money.
What is debit?
A city or state tax added to the price of an item you buy.
What is sales tax?
If I intended to buy something that was originally $20, but when I go to check out the screen tells me its only $15 and the item is on sale. This is an example of a ______>
What is a deduction?
A credit card is given by a bank or other businesses. The money spent from the credit card is then paid through _____ _______.
What are regular payments?
Written or typed documents that people keep regarding purchases, deposits, transfers, etc.
What are financial records?
A bank account that allows a customer to deposit and withdraw money and earn interest from the bank.
What is a savings account?
Money withheld from a worker's paycheck to fund federal programs such as Social Security and Medicare.
What is payroll tax?
Someone forgets their entrire wallent at home, including all their cash and cards. They use a different method to pay which is ______.
What is electriconic payment?
Checking accounts are accounts at a bank that allow a person to deposit or withdraw money and write checks to pay for ______ and ______.
What are goods & services?
A table used to record income expenses.
What is a ledger?
An organized plan for money in which the total income equals the total expenses for a given period of time.
What is a balanced budget?
Before taxes and other deductions are withheld, the total amount of money a worker makes is ______.
What is gross income?
A checking account is an account at the bank that allows a person to deposit or withdraw money and write checks to pay for goods and services. On the other hand, a _____ ______ is a table for recording information about checks written on a bank account.
What is a check register?