Personal Finance (C) Flashcards
What is commission?
The percentage of a sale price received by a salesperson for his or her services.
Who is a creditor?
A person who is owed money.
Who is a debtor?
A peron who owes money.
What is a dividend?
Sum payable as profit for shares.
What are equities?
A small slice of ownership (a share) of a company.
Who is a guarantor?
A person who guarantees to pay back the money if the borrower does not.
What is impulse buying?
Buying something without giving much thought as to whether you really need it.
What is net income?
Amount a person is left after income tax is deducted.
What is a premium?
Cost of an insurance policy.
What is a salary?
A fixed amount of money paid on a regular basis.
What is a royalty?
Sum paid to authors, musicians, etc. as a percentage of the proceeds from their work.
What is a secured loan?
Something deposited as a guarantee to fulfil the payment of a loan.
What is superannuation?
A way of saving so an employee has some money in retirement.
What is an unsecured loan?
Nothing is depositied as a guarantee to fulfil the payment of the loan.
What is a wage?
Money received by workers, usually on a weekly basis, for services they provide to an employer.
