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Unit 5

Assets= Liabilities+ Capital Accounting Equation
money owed for credit purchases Accounts payable
the amount owed by customers Accounts receivable
things owned, such as cash and buildings Assets
a financial statement that lists the assets, liabilities, and capital of a business Balance Sheet
an institution that accepts demand deposits and makes commercial loans Bank
a long-term written promise to pay a definite sum of money at a specific time Bond
provides payment damages to people who have losses resulting from the negligence or dishonesty of a employee or from the failure of the business to complete a contract Bonding
the value of a share of stock that is found by dividing the net worth (assets minus liabilities) of the corporation by the total number of shares outstanding Book value
a financial plan extending usually for one year Budget
earning power Capacity
what a business is worth after subtracting liabilities from assets Capital
a savings account that requires an investor to deposit a specified sum for a fixed period at a fixed interest rate Certificate of Deposit (CD)
an indication of one's moral obligation to pay debts Character
a written order on a financial institution to pay previously deposited money to a third party on demand Check
property a borrower pledges to assure repayment of a loan Collateral
a loan made to a business Commercial loan
ownership that gives holders the right to participate in managing the business by having voting privileges and by sharing in the profits (dividends) if there is any Common Stock
allows business to electronically transfer employees' paychecks directly from the employer's bank account to employees' bank accounts Direct deposit
offers payments to employees who are no longer able to work because of accident or illnesses Disability insurance
transferring money by computer rather than by check Electronic Fund Transfer (EFT)
the signature--usually on the back-- that transfers a negotiable instrument Endorsement
money invested in the business by its owner or owners Equity Capital
reports that summarize financial data over a period of time Financial statements
provides protection against the expenses of health care Health insurance
a financial document that reports total revenue and expenses for a specific period Income statement
the first time a company sells stock to the public Initial Public Offering (IPO)
credit used when a costumer makes sizable purchase and agrees to make payments over an extended but fixed period of time installment credit
a risk management tool that limits financial loss from uncontrollable events in exchange for regular payments insurance
an organization that specializes in the sale of a variety of stocks, bonds, and other securities investment companies
claims against assets or things owned; debts of a business Liabilities
provides protection for risks involved in operating a business Liability insurance
provides money that is paid upon death of the insured to a person pr people identified in the insurance policy life insurance
a type of liability insurance that protects against financial loss arising form suits for negligence in providing professional services malpractice value
the value at which stock is bought and sold on any given day Market value
each insurance company is required to pay losses of its insured when an accident occurs, regardless of who might have been responsible fro the loss No-fault insurance
an institution that offers on demand deposits or commercial loans, but not both non-bank financial institutions
ownership that gives holders preference over the common stockholders when disturbing dividends or assets preferred stock
the lowest rate of interest; rate at which large banks loan large sums to the best-qualitied borrowers Prime rate
an unconditional written promise to pay a certain sum of money, at a particular time or on demand, to the oder of one who has obtained the note. Promissory note
the uncertainty that a loss may occur Risk
an account that allows customers to make deposits, earn interest, and make withdrawals at any time without financial penalties savings account
a loan that requires the borrower to pledge something of value as security secured loan
stocks and bonds Securities
a credit and debit card with a memory that stores financial, health, credit, and other kinds of data that can be read by computers Smart card
a share of ownership in corporation Stock
a professional who buys and sells corporate securities for customers through a stock brokerage firm and gives investment advice Stockbroker
a loan that is not backed by collateral Unsecured Loan
an investor or investment group that lends large sums of money to promising, new, or expanding small companies venture capitalist
the difference between current assets and current liabilities working capital
Created by: racheledwards
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