Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
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
Normal Size Small Size show me how
POB SprTeks Review
POB Spring Teks Review Study Guide
| Definition | Term |
|---|---|
| A form of debt that is paid off over an extended time frame that exceeds one year in duration is called a | Long-term loan; an example would be a Mortgage Payments |
| A personal check for which a bank has guaranteed payments is called a | Certified Check |
| Writing “For Deposit Only” above the signature on the back on a check is called | Restrictive Endorsement |
| Consumers can use a debit card to make | ATM transactions |
| Typically e-banking services do not allow customers to | Print new checks |
| The FDIC insures all accounts in the same name at each bank up to an amount of | $250,000 |
| Expenses that can go up and down during a budget period is called | Variable Expense; an example would be Groceries |
| The amount of money your recieve when you cash your paycheck is called | Take-home pay |
| The difference between your personal assets and your liabilities is called | Your Net Worth |
| Pays the amount of an insurance policy upon the death of the insured | Life Insurance |
| The amount a policyholder must pay for insurance coverage is called the | Premium |
| An insurance policy states | The conditions to which the insurance company and the policyholder has agreed. |
| Employers must make matching contributions to | FICA (Social Security and Medicare) Taxes |
| Total Revenue – Total Expenses = | Net Income |
| what a company owns is called their | Assets |
| The first step of the budgeting process is | Prepare a list of each type of income and expense that will be part of the budget. |
| A business will make a profit if | Revenue is greater than expenses |
| Credit can be denied for the following reasons | High Debt Ratio (Capacity to pay), Low Income, and Poor Credit History. |
| A notice that requires information about all costs of borrowing be given to the borrower by the creditor is called | Truth-in-Lending Disclosure |
| A loan that is backed by collateral is called | Secured Loans |
| The total amount it costs you for a loan, including interest and fees is called | Finance Charge |
| One of the first things a creditor considers before lending you money is | Your capacity to pay |
| A type credit is used by people for personal reasons | Consumer Credit |
| Refers to an agreement to get money, goods, or services now in exchange for a promise to pay in the future? | Credit |
| A business that buys products from wholesalers or directly from producers and sells them to consumers to make a profit is called | Retailers |
| A store claims it is out of an advertised item and tries to get you to buy a more expensive is an example of | Bait and Switch |
| The Marketing Mix Consist of | Product, Price, Place, and Promotion |
| The function of marketing involved moving goods from one place to the end user | Distribution |
| The process of dividing the market into smaller groups based on different variables is called | Market Segmentation |
| Product - Anything that can be bought or sold. Price- Money requested or exchanged for a product. Place- Getting goods and services to customers. Promotion- Process of communicating with potential customers; to influence buying behaviors. | The 4 P's of Marketing |
| The dynamic activities that identify, anticipate, and satisfy customer demand while making a profit is called | Marketing |
| An assessment of an employee's job performance and the progress made toward achieving set goals is known as | Performance Appraisal |
| Payment made to an employee for work performed including wages or salaries, incentives, and benefits. | Compensation |
| The process of hiring, training, and developing employees is known as | Human Resource Management |
| Marketing to a larger group of people who might buy a product is known as | Mass Marketing |
| A business that purchases large amounts of goods directly from manufacturers to resell in smaller quantities is called | Wholesalers |
Created by:
mrstephens
Popular Business sets