means of exchange Flashcards
Banks
An organisation that stores money on behalf of its customers
Building society
Organisation that stores money on behalf of customers- customers are members
Credit union
Credit unions are not-for-profit savings and lending financial institutions, owned by its members
NS&Is
National savings and investments
Pawnbrokers
legal business where loans are made based on the value of merchandise used as collateral
Branch banking
Going into the branch to make a financial transaction
Online banking
Making financial transactions online
Telephone banking
Making financial transactions over the phone
Citizens advice
Organisation offering advice on a range of issues
Independent financial advisor
Professional offering independent advice on financial issues
Price comparison site
Website offering comparisons of financial benefits
Debt counselor
Professional offering advice on dealing with debt
Capital income
any form of payment that derives from owning physical or financial capital
Revenue income
Income from the goods in which the business trades
Expenditure
An amount of money spent.
Non current asset
Assets owned by a business that it expects to retain for one year or more
Current asset
Cash and other assets expected to be exchanged for cash or consumed within a year
Retained profit
Profit which is kept back in the business and used to pay for investment in the business.
Sale of asset
when a business sells off its unwanted or unused assets to raise funds
Crowdfunding
Using social networking to appeal to potential investors
Loans
amounts of money borrowed which will accumulate interest
Venture capital
Invested money used for new business opportunities
Debt factoring
The sale of a business’ invoices to a third party.
Trade credit
The practice of buying goods and services now and paying for them later
