Financial management terms
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| Barter | goods or services are exchanged for other goods or services instead of for money
🗑
|
||||
| Cashless Society | Credit cards, debit cards, electronic funds transfer
🗑
|
||||
| Credit card | a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit
🗑
|
||||
| Debit card | a card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase
🗑
|
||||
| Dependents | a person who relies on another, especially a family member, for financial support
🗑
|
||||
| Electronic Transfer | Electronic transfer of money from one bank account to another either within a single financial institution or across multiple institution, through computer based systems and without the direct intervention bank staff
🗑
|
||||
| Exemptions | The process of exempting a person from paying taxes on a specified amount of income for themselves and their dependents.
🗑
|
||||
| Fringe benefits | An extra benefit supplementing an employee's salary, for example, a company car, subsidized meals, health insurance, etc
🗑
|
||||
| Gross income | An individual's total personal income, before accounting for taxes or deductions
🗑
|
||||
| Garnishment | A court order directing that money or property of a third party (usually wages paid by an employer) be seized to satisfy a debt owed by a debtor to a plaintiff creditor.
🗑
|
||||
| Inflation | A general increase in prices and fall in the purchasing value of money.
🗑
|
||||
| Inheritance | Money or objects that someone gives you when they die
🗑
|
||||
| Human capital | The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country
🗑
|
||||
| Internal revenue Service | Is a US government agency responsible for the collection of taxes and enforcement of tax laws.
🗑
|
||||
| Money | A current medium of exchange in the forms of coins and banknotes; coins and banknotes collectively
🗑
|
||||
| Money order | A printed order for payment of a specified sum, issued by a bank or post office
🗑
|
||||
| Net pay | The amount of a persons paycheck left over after any deductions are taken out
🗑
|
||||
| Profit | A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
🗑
|
||||
| Paycheck stub | A piece of paper that is given to an employee with each paycheck
Shows the amount of money that the employee earned and the amount that was removed for taxes, insurance costs, ETC.
🗑
|
||||
| FICA Tax | Federal insurance contributions act
Is a US federal payroll tax imposed on both employees and employers to fund social security and Medicare
🗑
|
||||
| Treasury Department | The federal department that collects revenue and administers federal finances
The treasury department was created in 1789
🗑
|
||||
| Upward mobility | Rising from a lower to a higher social class or status
🗑
|
||||
| Windfall Income | Is an unexpected gain in income which could be due to winning a lottery, unforeseen inheritance or shortage of supply
🗑
|
||||
| Wage | A fixed regular payment typically paid on a daily or weekly basis, made by an employer to an employee
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
267083
Popular Finance sets