Definitions
What is Salary?
The three main forms of cash are currency, checks, and___________.
What is debit cards?
One of the factors people use when choosing a bank.
What is rate, location, fees, or convenience?
This is what credit card companies charge for use of their money?
What are finance charges?
An accounting form on which a business records information about each plant asset.
What is plant asset record?
The total amount earned by all employees for a pay period
What is payroll?
This payment method that lets you buy now and make payments later.
What is a credit card?
A request for your bank to pay another party from funds in your account.
What is a check?
Pay more than the minimum payment required
What is a way to reduce your credit card debt?
A draft payable on sight when the holder presents it for payment.
What is sight draft?
An owner of one or more shares of a corporation.
What is Stockholder?
Using most or all of your available credit will make your credit score go____.
What is down?
A legal process through which people or other entities who cannot repay debts to creditors.
What is bankruptcy?
As you pay off your mortgage you build this ..
What is equity?
A business in which two or more persons combine their assets and skills.
What is partnership?
The amount recorded on the right side.
What is Credit?
Paying off debts and keeping balances low makes your credit_______.
What is go up?
This happens when you write checks for more money than is in your account.
What is overdraft?
The only types of purchases that should be financed ..
What are large purchases?
A report prepared to give details about an item on a principal financial statement.
What is supporting schedule?
A computer used to collect, store, and report all the information of a sales transaction.
What is Point-of-Sale terminal?
This method of bill payment is programmed to pay the same amount to your lender each month on the same date.
What is automatic draft?
The limit of money deposited in a bank that is insured by the FDIC.
What is 100,000.00?
Calculate this by taking the total amount of money and assets you have and subtracting the total amount of money you owe.
What is Net Worth?
A form used during a periodic inventory to record information about each item of merchandise on hand.
What is inventory record?