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M5L1 Vocab
Finance
| Question | Answer |
|---|---|
| Billing statement | Tells how much you owe for goods purchased or services used |
| Account | A record of financial transactions and an arrangement between a provider and a customer who agrees to pay in the future |
| Utility bills | Bills for things we use like electricity, water, and garbage collection |
| Rent | The bill you pay if you are renting your home |
| Mortgage | The bill you pay if you are buying your home |
| Company | The provider of the goods or services the customer uses |
| Customer | The person who buys or uses whatever the company provides |
| Account number | The code which identifies the account holder or the customer |
| Account summary | The account summary lets you see at a glance all of the really important information on the bill |
| Balance | The unpaid amount, or the amount of money the customer owes the provider |
| Usage or transactions | A record of all the activity in the account. It includes: purchases or services credits to the account |
| Minimum payment | The amount the customer must pay to remain in good standing with the creditor |
| Due date | The date that the payment must be received by the creditor to avoid penalties |
Created by:
mrichards102