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Budget and Banking

QuestionAnswer
automated teller machine or automatic teller machine ATM
The amount of money in a financial repository, such as a checking account, at any given moment. Account Balance
a quantified financial plan for a forth coming accounting period. Budget
transactional deposit account held at a financial institution that allows for withdrawals and deposits. Checking Account
The movement of a check from the depository institution at which it was deposited back to the institution on which it was written Cleared Check
a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift Credit Union
An electronic card issued by a bank which allows bank clients access to their account to withdraw cash or pay for goods and services. Debit Card
Money given in advance to show intention to complete the purchase of a property. Deposit
a deposit of money straight from the source into a bank account Direct Deposit
to write on the back of; especially : to sign one's name as payee Endorse
The economic costs that a business incurs through its operations to earn revenue. Expense
Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the U.S. Congress to maintain stability FDIC
the price one pays as remuneration for services Fees
the ability to understand how money works in the world Financial Literacy
A security is a fungible, negotiable instrument representing financial value. Securities are broadly categorized into debt securities Financial Security
Costs of owning and operating a property that are not discretionary and, except for occasional increases, Fixed Expense
Money received, esp. on a regular basis, for work or through investments. Income
The price paid for borrowing money. It is expressed as a percentage rate over a period of time and reflects the rate of exchange of present consumption Interest
Loan arrangement under which a bank extends credit up to a maximum amount (called overdraft limit) against which a current (checking) account customer can write checks or makewithdraw. Loan Overdraft
A written message, esp. in business; a memorandum Memo
A motivating force that compels action for its satisfaction Needs
a term used in the banking industry to indicate that a demand for payment (a cheque) cannot be honored because insufficient funds Non-sufficient funds (NSF)
Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail Online Banking
A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable. Payee
a person who pays money for something. Payer
key process used to determine whether the money leaving an account matches the amount Reconcile
1.An economy of or reduction in money, time, or another resource. 2.The money one has saved, esp. through a bank or official scheme Savings
Variable costs are expenses that change in proportion to the activity of a business Variable Expenses
The human motives that induce the business and economic activities which produce the desired goods and services Wants
1.The action of withdrawing something. 2.An act of taking money out of an account. Withdrawal
Created by: JoseM. on 2013-03-11



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