Accounting
What is the main purpose of accounting?
To record and track a business’s financial information.
What type of account is used for everyday transactions like paying bills?
Checking account.
What do you call the money paid by the customer before insurance covers the rest
Deductible
What is the definition of finance?
The management and planning of money.
What is an investment?
Putting money into something with the expectation of earning a profit.
What is another name for financial record keeping?
Bookkeeping.
Which service allows you to store money and earn interest?
Savings account
What do you call the money you pay each month for insurance coverage
Premium
What is a budget?
A plan for how money will be spent and earned.
What is the main goal of investing?
To grow your money over time.
What is it called when a business earns more money than it spends?
Profit
How has technology made banking more convenient?
Allows mobile deposits, instant transfers, and 24/7 account access.
Who investigates insurance claims to determine if they are valid
Claim Adjuster
What is the difference between revenue and profit?
Revenue is total money earned; profit is what’s left after expenses are paid.
What is “risk” in investing?
The chance of losing money or not earning the expected return.
What document shows what a business owns and owes?
Balance sheet
What does “interest” mean in a loan?
The extra money you pay for borrowing
Why do people buy insurance even if they might never use it?
To protect themselves from unexpected financial risks
What is an expense?
Money spent to run a business.
What skills are important for someone working in investments?
Math, analysis, decision-making, and communication
Why do businesses need accountants?
To make sure financial information is accurate and legal, and to help make financial decisions.
Explain the difference between needs and wants in spending
Needs are essentials (food, rent); wants are extras (games, clothes)
Who helps customers choose and buy insurance plans?
Insurance Agent
Why is finance important in a business?
It helps a business make smart money decisions, stay profitable, and plan for growth.
How do careers in securities and investments help the economy?
They connect people with opportunities to grow wealth and fund business growth.