Financial Flashcards
Payments using security features on the Internet
Electronic Payment (e-Payment)
Payment for goods and services
Expense
A specific time or instance when money changes hands
Transaction
The amount available in an account for a person, business, or organization to spend.
Available Balance
A formal record of the transactions made by a person, business, or other organization
Financial Records
A small table to rack deposits added to accounts, expenses withdrawn from account, and current available balance
Register
Money earned or received
Income
A card that can be used to borrow money from financial institutions, stores, or other businesses in order to buy products and services on credit
Credit Card
The income that remains after taxes and other deductions are taken from an individual’s gross income
Net Income
A monthly or yearly spending and saving plan for an individual, family, business, or organization
Budget
A card that is linked to your checking account so that a person can withdraw money, make deposits, or make purchases at a store
Debit Card
The amount of money that a company withholds from its employees for the federal government as required by law
Payroll tax
The amount of money collected by a store (retailer), in addition to a good or service that has purchased, for the local government as required by law
Sales Tax
Money paid to federal and/or state governments based on an individual’s income as required by law
Income Tax
To reconcile your budget or account statement with your check register to make sure the records match and are accurate
Balance
