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Question | Answer |
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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 goods 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 the action are subtracted |
cost comparison | the process by comparing the price of different products and 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 of clients |
gross income | an individual's total pay before the taxes and other deductions are taken out of the paycheck |
income tax | tax levied by a government directly on income, especially an annual tax on a 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 out of the paycheck |
property tax | the tax levied by 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 |