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Bell Work Unit 6

bell work terms

TermDefinition
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 benefit analysis a process by which nosiness decisions are analyzed, the benefits are summed, and then the costs associated with that action are subtracted.
cost comparison the process of comparing the price of different products or services.
creditworthy financially sound enough to justify the extension of credit.
depreciation -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: ttramonte
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