budget 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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| 1. ATM | automated teller machine
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| 2. 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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| 3. Budget | An estimate of income and expenditure for a set period of time
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| 4. Checking Account |
An account at a bank against which checks can be drawn by the account depositor
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| 5. Cleared Check | The process in which reserves or funds are transferred among banks to settle the accounts of checks written on one account and deposited into another.
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| 6. Credit Union | A nonprofit financial cooperative offering deposit accounts, low-interest loans, etc
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| 7. 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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| 8. 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 | 1.Declare one's public approval or support of.
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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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| 14. 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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| 15. Financial Security | A security is a fungible, negotiable instrument representing financial value. Securities are broadly categorized into debt securities...
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| 16. Fixed Expense | Fixed Expense) Any expense that does not change from period to period, such as loan payments
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| 17. Income | Money received, esp. on a regular basis, for work or through investments.
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| 18. Interest | The state of wanting to know or learn about something or someone: "many people lose interest in history".
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| 19. Loan Overdraft | If you have an overdraft account, your bank will cover checks which would otherwise bounce. As with any loan, you pay interest on the outstanding balance of an
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| 20. Memo |
A written message, esp. in business; a memorandum
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| 21. Needs | Cannot avoid or help doing something: "they must needs depart
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| 22. Non-sufficient funds (NSF) | A term used to indicate when an item such as a check, or other transaction presented for payment is returned unpaid because the availabl...
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| 23. 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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| 24. 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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| 25. Payer | a person who pays money for something
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| 26. Reconcile | 1.Restore friendly relations between: "she wanted to be reconciled with her father".
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| 27. Savings | 1.An economy of or reduction in money, time, or another resource.
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| 28. Variable Expenses | (Variable expense) Variable costs are expenses that change in proportion to the activity of a business.Garrison, Noreen, Brewer. Ch 2 -...
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| 29. Wants | Have a desire to possess or do (something); wish for
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| 30. Withdrawal | 1.The action of withdrawing something
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Created by:
naquita hunt
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