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Unit 6 Tramonte 2nd
Unit 6 Bell Work Terms
| Term | Definition |
|---|---|
| budget | an estimate of income and expenses for a set period of time |
| cash flow | the total amount of money transferred into and out of a business or household |
| consumer | a person who purchases good and services for personal use |
| cost comparison | the process of comparing the price of different products or servicies |
| creditworthy | financially sound enough to justify the extension of credit |
| derpreciation | a reduction in the value of an asset with the passage of time |
| financial advisor | a person employed to provide financial services or guidance to clients |
| gross income | an individual's total pay before taxes and other deductions are taken out the paycheck |
| income tax | tax levied by a government directly on income, especially an annual tax on personal income |
| inflation | a general increase in prices and fall in the purchasing value of money |
| medicare | the federal health insurance program for people who are 65 or older and some younger people with disabilities |
| net income | an individual's income after taking taxes and deductions into account |
| property tax | the tax levied by the governing authority of the jurisdiction in which the property is located |
| sales tax | a tax on sales or on the receipts from sales |
| social security | a federal insurance program that provides benefits to retired people and those who are unemployed or disabled |
Created by:
agalloway_36
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