A long-term written promise to pay a definite sum of money at a specified time
What is Bond
100
The uncertainty that a loss may occur
What is Risk
100
Assets = Liabilities + Capital
What is Accounting equation
100
Things owned, such as cash and buildings
What is Assets
100
A written order on a financial institution to pay previously deposited money to a third party on demand
What is Check
200
A systematic process of recording and reporting the financial information resulting from business transactions
What is Accounting
200
A financial statement that lists the assets, liabilities, and capital of a business
What is Balance sheet
200
Provides payment of damages to people who have losses resulting from the negligence or dishonesty of an employee or from the failure of the business to complete a contract
What is Bonding
200
A financial plan extending usually for one year
What is Budget
200
Allows business to electronically transfer employees' paychecks directly from the employer's bank account to employees' bank accounts
What is Direct deposit
300
A credit and debit card with a memory that stores financial, health, credit, and other kinds of data that can be read by computers
What is Smart card
300
An unconditional written promise to pay a certain sum of money, at a particular time or on demand, to the order of one who has obtained the note
What is Promissory note
300
A professional who buys and sells corporate securities for customers through a stock brokerage firm and gives investment advice
What is Stockbroker
300
The difference between current assets and current liabilities
What is Working capital
300
A savings account that requires an investor to deposit a specified sum for a fixed period at a fixed interest rate
What is Certificate of Deposit (CD)
400
Transferring money by computer rather than by check
What is Electronic Fund Transfer (EFT)
400
A financial document that reports total revenue and expenses for a specific period
What is Income statement
400
Each insurance company is required to pay the losses of its insured when an accident occurs, regardless of who might have been responsible for the loss
What is No-fault insurance
400
A type of liability insurance that protects against financial loss arising from suits for negligence in providing professional services
What is Malpractice insurance
400
A loan that is not backed by collateral
What is Unsecured loan
500
Provides money that is paid upon the death of the insured to a person or people identified in the insurance policy
What is Life insurance
500
Credit used when a customer makes a sizable purchase and agrees to make payments over an extended but fixed period of time
What is Installment credit
500
An account that allows customers to make deposits, earn interest, and make withdrawals at any time without financial penalties
What is Savings account
500
Ownership that gives holders preference over the common stockholders when distributing dividends or assets
What is Preferred stock
500
The value of a share of stock that is found by dividing the net worth (assets minus liabilities) of the corporation by the total number of shares outstanding