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Banking Vocabulary
| Question | Answer |
|---|---|
| n. the difference between credits and debits | balance |
| v. to put a sum of money in a bank for safekeeping | deposit |
| n. a banknote | bill |
| n. financial record of a company's assets, liabilities, and owners' equity; total assets must always equal total liabilities and equity | balance sheet |
| n. the income record of deposits and withdrawals from an account | statement |
| n. debt, liability | debit |
| n. something owed (as in money) | debt |
| n. debt, financial obligation | liability |
| n. one who receives money from a lender and promises to repay the lender in a specified time | borrower |
| v. to lend money for a period of time, n. money lent by a bank etc. that must be repaid with interest | loan |
| n. a professional who provides advice in a particular area of expertise | consultant |
| n. currency of another nation. Exchanging money in one currency for another | foreign exchange |
| n. the rate at which one currency can be exchanged for another | exchange rate |
| n. land and anything permanently attached to the land, such as buildings | real estate |
| n. possessions, includes land, movable goods, and inventions, written material, etc. | property |
| n. money paid for the use of money lent | interest |
| n. a record of an individual's or company's past borrowing and repaying | credit history |
| adj. unable to pay one's debts; | bankrupt |
| n. method by which individuals and businesses can purchase real estate without the need to pay full value immediately | mortgage |
| n. the process in which a bank or another creditor repossesses property due to the owner's failure to pay on a mortgage or loan | foreclosure |
| n. an exchange between two parties usually involving information, goods, services, or money | transaction |
| n.a legally binding exchange of promises or agreement between parties that the law will enforce | contract |
| n. money available for a person to borrow from a bank or another source | credit |
| n. the assessment of credit worthiness | credit rating |
| n. deficit in a bank account caused by withdrawing more money than is paid in | overdraft |
| n. a party (person, organization, company, or government) that has provided property or service (usually money) to another party | creditor |
| n. cash that is available for small, everyday expenses | petty cash |
| n. merchandise, personal possessions, movable property | goods |
| n. coins or bank notes | hard cash |
| n. the amount of cash received and spent by a business during a certain period of time, or for a specific project | cash flow |
| v. to take a loan from a bank or another source | borrow |
| n. the money in use in any country | currency |
| v. to put money into a business, land, etc. for profit | invest |
| n. currency that investors have confidence in, such as that of a politically stable country with low inflation | hard currency |
| n. buying and selling | commerce |
| n. property, goods, etc. that an individual or business owns | asset(s) |
| n. financial charge imposed on an individual or legal entity by a state | tax |
| n. currency that cannot legally be refused in payment of a debt | legal tender |
| v. to take back property because the owner could not repay a loan; in this case, refers to a financial institution; n. repossession | repossess |
| n. a number representing an individual's or company's credit worthiness | credit score |
| v. to buy foreign currency, land etc. for rapid gains | speculate |
| v. to take money out of a bank account | withdraw |
Created by:
elwphd
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