Filing Taxes and Capital
This is the sum of earned and unearned monetary receipts within a defined period.
What is gross income?
This is the fee charged for borrowing money.
What is interest?
This is the general term for any plastic rectangle presented as payment for a purchase.
What is a payment card?
This is a thing required to survive.
What is a need?
This plastic card allows a person to borrow money from the bank or financial institution that issued it.
What is a credit card?
This refers to income earned from sources other than capital profits, such as standard wages.
What is ordinary income?
This document provides a list of all account activity for a given period of time.
What is a bank statement?
This is an arrangement in which a buyer receives a product in exchange for the promise to pay for it at a later date.
What is a charge account?
This is a plan for saving and spending money.
What is a budget?
This is a fee charged by many credit cards for the privilege of having the card.
What is an annual fee?
This is a tax that must be paid out of the property value of a deceased person before that property is transferred to the heirs.
What is an estate tax?
This is any profit resulting from the sale of an asset held less than a year.
What is a short-term capital gain?
This type of promotion charges the advertiser every time a viewer clicks the link in the advertisement.
What is pay-per-click advertising?
This is a measure of the change in the price of goods and services purchased by households.
What is the consumer price index (CPI)?
Daily Double!
This ratio is calculated by dividing the money required each month to pay debts by the borrower’s monthly gross income.
Daily Double
This type of retirement account allows individuals to save funds for use later in life.
This is a service offered for a fee that covers checks when a person spends more money than is available in their account, up to certain limits.
What is overdraft protection?
This is an optional additional guarantee offered by manufacturers or third parties that a consumer may purchase.
What is an extended warranty?
This phrase describes anything that takes cash away from a person or business.
What is cash outflow?
This is the most common credit score, named for the Fair Isaac Corporation.
What is a FICO score?
This is the amount a person can claim on a tax document for each person who relies on his or her income.
What is an exemption?
This computerized machine permits individuals to perform basic financial functions without needing to enter a physical branch.
What is an automated teller machine (ATM)?
This is a form of currency that can be utilized when making purchases over the Internet.
What is digital cash?
This describes an expense that stays the same each month.
What is a fixed expense?
This is the maximum amount of money available on a line of credit.
What is the credit limit?