Section 2 Part 2

Question 1

salary

Answer 1

Is a fixed regular payment that is typically paid monthly.

Question 2

fees

Answer 2

Is a payment made to a professional person in exchange for advice or services.

Question 3

commission

Answer 3

Is additional compensation that’s earned based on job performance.

Question 4

rent income

Answer 4

Is the full amount of rent and associated payments that you receive, or become entitled to, when you rent out your property. E.g., you rent out your house or an apartment and the money you receive from the people renting that space is rent income.

Question 5

interest

Answer 5

Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt. E.g., you borrow money from a bank, and you must pay 0.05% interest.

Question 6

royalties

Answer 6

A sum paid to a patentee for the use of a patent

Question 7

dividend

Answer 7

A sum of money paid regularly by a company to its shareholders out of its profits.

Question 8

shareholder

Answer 8

An owner of shares in a company.

Question 9

transactions

Answer 9

An instance of buying or selling something.

Question 10

credit card

Answer 10

A plastic card used to allow the holder to purchase goods or services on credit. These cards are issued by banks.

Question 11

debit card

Answer 11

A card that allows the holder to transfer money electronically from their bank account when making a purchase.

Question 12

mortgage

Answer 12

A legal agreement by which a bank lends money at interest in exchange for taking title of the debtor’s property