Key Terms Flashcards
1
Q
Money
A
an object accepted as a payment for goods and services and repayment of debts in a given country.
2
Q
Expenditure
A
money being paid out
3
Q
Debt
A
money owed
4
Q
Credit rating
A
score given on how likely you are to repay debts based on previous actions
5
Q
Bankrupt
A
an individual or organisation legally states in inability to repay debts
6
Q
Solvent
A
ability to meet day to day expenditure and repay debts
