Busy. Please wait.
Log in with Clever
or

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever
or

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.

budget and baking

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
        Help!  

Term
Definition
ATM   a machine that dispenses cash or performs other banking services when an account holder inserts a bank card.  
🗑
account balance   is the amount of money in a financial repository, such as a checking account, at any given moment  
🗑
bank reconciliation   statement is a process that explains the difference on a specified date between the bank balance shown in an organization's bank statement  
🗑
budget   estimation of revenue and expenses over a specified future period of time; it is compiled and re-evaluated on a periodic basis  
🗑
checking account   an account at a bank against which checks can be drawn by the account depositor  
🗑
check register   document, usually part of the general ledger, used to record financial transactions in cash.  
🗑
cleared check   The movement of a check from the depository institution at which it was deposited back to the institution on which it was written  
🗑
credit union   a nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates.  
🗑
debit card   a card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.  
🗑
deposit   a sum of money placed or kept in a bank account, usually to gain interest.  
🗑
direct deposit   the electronic transfer of a payment directly from the account of the payer to the recipient's account.  
🗑
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.  
🗑
expense   the cost required for something; the money spent on something  
🗑
FDIC   U.S. corporation insuring deposits in the United States against bank failure  
🗑
fees   a payment made to a professional person or to a professional or public body in exchange for advice or services.  
🗑
financial literacy   is the ability to use knowledge and skills to manage one's financial resources effectively for lifetime financial security.  
🗑
financial security   deep rooted emotion giving individuals a psycho- logical hall pass saying, “It's going to be okay.”  
🗑
fixed expense   expense that will be the same total amount regardless of changes in the amount of sales, production, or some other activity  
🗑
income   money received, especially on a regular basis, for work or through investments  
🗑
interest   money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.  
🗑
load overdraft   allows the individual to continue withdrawing money even if the account has no funds in it or not enough to cover the withdrawal  
🗑
memo   a written message, especially in business.  
🗑
needs   cannot avoid or help doing something.  
🗑
non sufficient funds   a cheque cannot be honored because insufficient funds are available in the account on which the instrument was drawn  
🗑
online banking   a method of banking in which transactions are conducted electronically via the Internet.  
🗑
payee   a person to whom money is paid or is to be paid, especially the person to whom a check is made payable.  
🗑
payer   a person or organization that gives someone money that is due for work done, goods received, or a debt incurred.  
🗑
reconcile   make (one account) consistent with another, especially by allowing for transactions begun but not yet completed.  
🗑
savings   the money one has saved, especially through a bank or official scheme  
🗑
variable expenses   a corporate expense that changes in proportion with production output. Variable costs increase or decrease depending on a company's production volume  
🗑
wants   ave a desire to possess or do (something); wish for.  
🗑
withdrawal   an act of taking money out of an account.  
🗑


   

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.

 
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
Created by: sromanik18
Popular Finance sets