Financial documents, tariff systems and break- even analysis

Question 1

ATM

Answer 1

a device that gives clients access to financial transactions in public without the assistance if a cashier or balance clerk

Question 2

Bank charges

Answer 2

tariffs charged by a bank for services rendered

Question 3

Bank fees

Answer 3

fees charged by a bank for handling money

Question 4

budget

Answer 4

an estimate of expected income and expenditure over a fixed period usually a month

Question 5

Commission

Answer 5

an amount normally a fixed percentage of the total value concearned, paid to a salesperson for service renderecd

Question 6

Deductions

Answer 6

money to be recovered from a salary like tax

Question 7

Deposit

Answer 7

money paid into a bank account

Question 8

expenditure

Answer 8

money paid for or spent

Question 9

fee

Answer 9

money charged for service rendered

Question 10

gross salary

Answer 10

income before deductions

Question 11

Income

Answer 11

money earned for work done such as a salary

Question 12

Loss

Answer 12

the difference between money earned and money spent when the expenditure is more than the income

Question 13

Nett salary

Answer 13

income after deductions

Question 14

Notch

Answer 14

forms part of the annual salary scale

Question 15

PAYE

Answer 15

PAY AS YOU EARN

tax levied on a salary

Question 16

Profit

Answer 16

the difference between money earned and money spent

Question 17

Salary

Answer 17

money normally earned monthly by an employee for services rendered

Question 18

VAT

Answer 18

Value Added Tax

Question 19

Wage

Answer 19

money normally earned weekly by an employee for service rendered

Question 20

Withdrawal

Answer 20

money taken from a bank account