Foundations
An announcement of a product’s benefits intended to encourage purchase.
What is advertising?
Something owed, usually measured in dollars.
What is debt?
When one company eliminates all competition and gains exclusive control.
What is a monopoly?
The positive difference between total revenue and total expenses.
What is profit?
A person or organization named to receive assets.
What is a beneficiary?
The act of putting money into a financial account.
What is a deposit?
A statistical measure of how likely you are to repay a debt.
What is a credit score?
The idea that pricing is set by consumer desire and manufacturer production.
What is supply and demand?
An investment representing shares of ownership in a corporation.
What is stock?
A legal declaration of a person’s wishes for their estate after death.
What is a will?
Trading goods or services for other goods or services without using money.
What is bartering?
The number of years a bankruptcy remains on your credit record.
What is 10 years?
A written contract for the use of an asset, like a house or car.
What is a lease?
Interest calculated only on the principal, not on earned interest.
What is simple interest?
A legal arrangement where a truster manages assets for a beneficiary.
What is a trust?
A spending plan or record of projected and actual income/expenses.
What is a budget?
Property a borrower promises to a lender if they fail to repay a loan.
What is collateral?
The "Take Home Pay" formula: Gross Wage minus this.
What are deductions?
The ease with which an asset can be converted into cash.
What is liquidity?
Income from sources other than employment, like royalties or returns.
What is unearned income?
A for-profit financial institution that offers loans and other financial services.
What is a bank?
The 2005 law revision intended to make the bankruptcy system fairer for creditors and debtors.
What is the Bankruptcy Abuse Prevention and Consumer Protection Act?
Compensation for work expressed as an annual sum, paid in prorated portions.
What is a salary?
The value of an owner’s share in a property (Value minus Mortgage).
What is equity?
This document describes a company's structure, staff, and marketing.