Shared Flashcard Set

Details

Unit 2 Vocabulary
Personal Finance
27
Business
10th Grade
10/05/2015
Click here to study/print these flashcards.

Create your own flash cards! Sign up here.

Additional Business Flashcards

 

 

Cards

Term
Spending Plan:
 Definition
It is a simple strategy for making the most of your money and reaching your financial goals.
Term
Expense:
 Definition
It is the cost that is required for something, and/or the money spent on something.
Term
Gross Income:
 Definition
The total amount of money a worker earns for s specific time.
Term
Income:
 Definition
The actual amount of money earned or received during a given period.
Term
income and expense statement:
 Definition
A report of the revenue, ecpenses and net income or net loss for an accounting period
Term
Insurance:
 Definition
Paid protection against loss due to injury or property damage.
Term
Mortgage:
 Definition
An agreement in which a borrower gives a lender the right to take property if a loan is not repaid.
Term
Net Gain:
 Definition
the overall gain of a transmission circuit.
Term
Net Income:
 Definition
It is an entity's income minus cost of goods sold, expenses and taxes for an accounting period.
Term
Net Loss:
 Definition
The result that occurs when expenses exceed the income or total revenue produced for a given period of time.
Term
Savings:
 Definition
Putting money aside for future use.
Term
Asset:
 Definition
Everything a person owns with monetary value.
Term
Liability:
 Definition
Creditors' claim tot he assets of a business.
Term
Market Value:
 Definition
The amount for which something can be sold on a given market.
Term
Monetary Asset:
 Definition
Can be quickly and easily converted into cash.
Term
Net Worth:
 Definition
The measure of financial worth.
Term
Statement of Financial Position:
 Definition
Descr
Term
investment asset:
 Definition
financial investments designed to generate profit.
Term
tangible asset:
 Definition
personal property that was purchased to create a lifestyle or improve your life.
Term
wealth:
 Definition
Indicates the monetary value of all possessions that a person or household owns, minus the total owns top others.
Term
Community:
 Definition
A group of people with common interests and concern for the common good.
Term
Earned Income:
 Definition
Any money earned from work.
Term
Excise Tax:
 Definition
Certain things like gas, oil, and etc.
Term
Income Tax:
 Definition
Any money received.
Term
Payroll Tax:
 Definition
They are taxes that are imposed on employees or employers.
Term
Property Tax:
 Definition
Its is a levy in property that the owner is required to pay.
Term
Sales Tax:
 Definition
A tax on sales or on the receipts from sales.
Supporting users have an ad free experience!