BUDGET AND BANKING
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| ATM | automatic teller machine
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| Account Balance | A balance of payments (BOP) sheet is an accounting record of all monetary transactions between a country and the rest of the world....
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| Budget | An estimate of income and expenditure for a set period of time
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| Checking Account | An account at a bank against which checks can be drawn by the account depositor.
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| Cleared Check | a check that has been deposited or cashed at a bank
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| Credit Union | A nonprofit financial cooperative offering deposit accounts, low-interest loans, etc
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| Debit Card | A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.
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| Deposit | A sum of money placed or kept in a bank account, usually to gain interest.
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| Direct Deposit | The electronic transfer of a payment directly from the account of the payer to the recipient's account.
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| Endorse | To write one's signature on the back of (a check, for example) as evidence of the legal transfer of its ownership, especially in return for the cash or credit indicated on its face.
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| Expense | The cost required for something; the money spent on something
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| FDIC | Federal Deposit Insurance Corporation, a body that underwrites most private bank deposits.
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| Fees | 2.Money paid as part of a special transaction, e.g., for a privilege or for admission to something.
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| Financial Literacy | Financial literacy is the ability to understand finance. More specifically, it refers to the set of skills and knowledge that allow an...
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| Financial Security | A security is a fungible, negotiable instrument representing financial value. Securities are broadly categorized into debt securities...
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| Fixed Expense | Any expense that does not change from period to period, such as loan payments..
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| Income | Money received, esp. on a regular basis, for work or through investments.
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| Interest | The charge for the privilege of borrowing money, typically expressed as an annual percentage rate.
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| Loan Overdraft | An overdraft line of credit is a loan attached to your checking account. Instead of bouncing checks and paying large fees, you can borrow a few bucks and pay interest.
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| Memo | A statement saying what the check is for
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| Needs | Cannot avoid or help doing something: "they must needs depart".
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| Non-sufficient funds (NSF) | Non-sufficient funds (NSF) is a term used in the banking industry to indicate that a demand for payment (a check) cannot be honored...
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| Online Banking | Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail or...
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| Payee | A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable.
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| Payer | a person who pays money for something
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| Reconcile | An accounting process used to compare two sets of records to ensure the figures are in agreement and are accurate
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| Savings | An economy of or reduction in money, time, or another resource.
1.An economy of or reduction in money, time, or another resource
An economy of or reduction in money, time, or another resource
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| Variable Expenses | A cost that fluctuates directly with output changes.
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| Wants | Have a desire to possess or do (something); wish for.
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| Withdrawal | An act of taking money out of an account.
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| LADASIA | cox
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LADASIA 13
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