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 | Electronic Banking Outlet, Anyone with a credit card or debit card can access most ATMs.
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| Account Balance | Amount of money in a account. Such as a savings account.
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| Bank Reconciliation | A form that allows individuals to compare their personal bank account records to the bank's records of the individual's account balance in order to uncover any possible similarities
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| Budget | estimate of income for a set period of time
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| Checking Account | account at a bank against which checks can be drawn by the account depositor
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| Check Register | document, usually part of the general ledger, used to record financial transactions in cash
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| Cleared Check | Movement of a check from the bank in which it was deposited to the bank on which it was drawn
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| Credit Union | a nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates
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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 | 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 | sign (a check or bill of exchange) on the back to make it payable to someone other than the stated payee or to accept responsibility for paying it.
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| Expense | the cost required for something; the money spent on something
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| FDIC | The Federal Deposit Insurance Corporation
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| Fees | make a payment to someone in return for services.
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| Financial Literacy | is the ability to use knowledge and skills to manage one's financial resources effectively for lifetime financial security.
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| Financial Security | peaceful state of mind for not being in debt
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| Fixed Expense | an expense that will be the same total amount regardless of changes in the amount of sales, production, or some other activity
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| Income | money received
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| Interest | money paid regularly at a particular rate
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| Loan Overdraft | a limit on borrowing on a bank current account
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| Memo | a written message
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| Needs | cannot avoid or help doing something
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| Non-Sufficient Funds (NSF) | NSF) is a term used in the banking industry, meaning no money is available in this account
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| Online Banking | method of banking in which transactions are conducted electronically via the Internet
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| Payee | person to whom money is paid or is to be paid
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| Payer | a person or organization that gives someone money that is due for work done, goods received, or a debt incurred
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| Reconcile | make an account
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| Savings | the money one has saved
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| Variable Expenses | increase or decrease depending on a company's production volume
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| Wants | to wish for
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| Withdrawal | taking money out of an account
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Created by:
ascheffer19
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