Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why

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.

By signing up, I agree to StudyStack's Terms of Service and Privacy Policy.


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.

Remove ads
Don't know
Know
remaining cards
Save
0:01
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards




share
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 an electronic banking outlet, which allows customers to complete basic transactions without the aid of a branch representative or teller.
Account Balance the amount of money in a financial repository, such as a checking account, at any given moment
Bank Reconciliation statement is a process that explains the difference on a specified date between the bank balance shown in an organization's bank statement, as supplied by the bank, and the corresponding amount shown in the organization's own accounting records.
Budget allow or provide a particular amount of money in a budget
Checking Account an account at a bank against which checks can be drawn by the account depositor
Check Register is a document, usually part of the general ledger, used to record financial transactions in cash.
Cleared Check The movement of a check from the depository institution at which it was deposited back to the institution on which it was written
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 is the U.S. corporation insuring deposits in the United States against bank failure.
Financial Literacy is the ability to use knowledge and skills to manage one's financial resources effectively for lifetime financial security
Financial Security not worrying about being in debt
Fixed Expense is 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 The charge for borrowing money or the return for lending
Loan Overdraft is an extension of credit from a lending institution when an account reaches zero
Memo is an extension of credit from a lending institution when an account reaches zero
Needs cannot avoid or help doing something
Non-sufficient funds (NSF) is 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 official scheme
Variable Expense s a corporate expense that changes in proportion with production output.
Wants have a desire to possess or do (something); wish for
Withdrawal an act of taking money out of an account.
Created by: kfrost18