Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Budget And Banking

TermDefinition
ATM a machine that dispenses cash or performs other banking services when an account holder inserts a bank card.
Account Balance An account balance is the amount of money present in a financial repository, such as a savings or checking account, at any given moment.
Bank Reconciliation A bank reconciliation statement is a document that compares the cash balance on a company’s balance sheet to the corresponding amount on its bank statement.
Budget an estimate of income and expenditure for a set period of time.
Checking Account an account at a bank against which checks can be drawn by the account depositor
Check register A check register, also called a cash disbursements journal, is the journal used to record all of the checks, cash payments, and outlays of cash during an accounting period.
Cleared check A cleared check is one for which the money has successfully transferred from the issuer's account to the receiver's account.
Credit Union a nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates.
Debit Card a card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.
Deposit a sum of money placed or kept in a bank account, usually to gain interest.
Direct Deposit the electronic transfer of a payment directly from the account of the payer to the recipient's account.
Endorse sign (a check or bill of exchange) on the back to make it payable to someone other than the stated payee or to accept responsibility for paying it.
Expense the cost required for something; the money spent on something.
FDIC Federal Deposit Insurance Corporation, a body that underwrites most private bank deposits.
Fees a payment made to a professional person or to a professional or public body in exchange for advice or services.
Financial Literacy the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.
Financial Security financial instrument issued by companies, financial institutions and the government as a means of borrowing money and raising new capital.
Fixed Expense an expense that will be the same total amount regardless of changes in the amount of sales, production, or some other activity.
Income money received, especially on a regular basis, for work or through investments.
Interest money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
Loan Overdraft An overdraft is a loan provided by a bank that allows a customer to pay for bills and other expenses when the account reaches zero.
Memo a written message, especially in business.
Needs Financial need is the difference between cost and ability to pay.
Non Sufficient Funds (NSF) refers to the status of a checking account that does not have enough money to cover transactions.
Online Banking a method of banking in which transactions are conducted electronically via the internet.
Payee a person to whom money is paid or is to be paid, especially the person to whom a check is made payable.
Payer a person or organization that gives someone money that is due for work done, goods received, or a debt incurred.
Reconcile make (one account) consistent with another, especially by allowing for transactions begun but not yet completed.
Savings the money one has saved, especially through a bank or investment plan.
Variable Expenses When production or sales increase, variable costs increase; when production or sales decrease, variable costs decrease.
Wants The attempt to satisfy wants forms the basis of all economic activity. Wants are expressed in the market place not by need or desire but by the willingness and ability to actually purchase the good or service in DEMAND.
Withdrawal an act of taking money out of an account.
Created by: Skelly2331
Popular Finance sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards