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Terminology 102

Unit 2

QuestionAnswer
The total amount earned for work provided Gross Earnings
Money withheld from the employee's salary and deposited to the employer's tax account Federal Depositary
Compensation for services minus any deductions Net earnings
Social Security Tax FICA
Person transfering ownership of the check by signature Endorser
Amounts for taxes and Social Security which are withheld from every employee's pay Payeroll Deductions
Statement sent by the bank to the customer showing the status of the account Bank Statement
Compenstation for services or work provided for a specific period of time Salary
Balancing of a checkook with a bank statement Reconciliation
The threat to take action that cannot be taken legally Fair debt collection act
A locked fire proof box used to hold valuables Safe box deposit
Made out by an unknown individual to the patient Third party check
check made payable to the bearer, the payee signs their own name Blank endorsement
Words specifying the person to whom the check is payable Special endorsement
Measures how fast outstanding accounts are paid Accounts receivable ratio
Form filled out by an employee authoring payroll deductions W4
A banks own check signed by the bank for an amount drawn against the person's own account Cashier's check
notice of amount owed Statement
Purchased at a store for the face value, plus a fee used like a check Money order
Non sufficient funds; not enough money in the bank to cover the check NSF
Created by: nioshabrown0602
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