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Financial Terms
| Question | Answer |
|---|---|
| resources with economic value that an individual, business, or government owns or controls with the expectation that they will provide a future benefit | Assets |
| fixed-income financial instruments representing loans made by investors to borrowers (companies or governments) | Bonds |
| a share of ownership in a public or private company | Stock |
| Earning interest on interest | Compound interest |
| decrease in an asset’s value | Depreciation |
| debts, obligations, or services a person or business owes to another | liabilities |
| the amount of money that belongs to the owners of a business after all assets and liabilities have been accounted for | Equity (Can also refer to a specific asset, like home equity) |
| Assets minus liabilities (Refers to an individual) | net worth |
| total income a business generates from selling goods or services | Revenue |
| measure of profitability that’s calculated by dividing the net income by revenue | Profit margin |
| term for when a customer purchases a good or service with an agreement to pay at a later date | credit |
| credit account that has exceeded its credit limit or a bank account that has had more than its balance withdrawn. | Overdrawn account |
| the fixed costs associated with operating a business. For example, rent, marketing, utilities and administrative costs | Overhead |
| loan used to purchase or refinance homes, where the property acts as collateral, typically repaid over 10 to 30 years | mortgage |
| something pledged as security for repayment of a loan, to be forfeited in the event of a default. | collateral |
| The act of evaluating and setting the value of a specific piece of property | Appraisal |
| A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. | Beneficiary |
| A government corporation that insures the deposits of all national and State banks that are members of the Federal Reserve System | Federal Deposit Insurance Corporation (FDIC) |
| The central bank of the United States | Federal Reserve System |
| The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check | Forgery |
| A legal process that allows a creditor to remove funds from your bank account to satisfy a debt that you have not paid | Garnish |
Created by:
Schu221
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