Tyra Burns

Question 0

Net worth

Answer 0

Total assests minus total outside liabilities of an individual or a company

Question 1

Finances

Answer 1

The management of large amounts of money, especially by the government

Question 2

Assests

Answer 2

Property owned by a person, regarded as having value

Question 3

Gross pay

Answer 3

The amount of salary that is paid by an employer to an employee.

Question 4

Sundries

Answer 4

Miscellaneous small articles, details, or items

Question 5

HMO

Answer 5

provides or arranges managed care for health insurance, self-funded health care benefit plans, individuals and other entities in the US and act as a liaison with health care providers

Question 6

Debit Card

Answer 6

Card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.

Question 7

PIN

Answer 7

A number allocated to an individual and used to validate electronic transactions

Question 8

Void

Answer 8

Not valid or legally binding

Question 9

Canceled check

Answer 9

A check that has been cleared the depositors account and has been marked as “canceled” by the bank.

Question 10

Budget

Answer 10

An estimate of income and expenditure for a set period of time.

Question 11

Utilities

Answer 11

The cost of electricity, heat, sewer, and water used during the period indicated in the heading of the income statement

Question 12

Liabilities

Answer 12

The state of being responsible for something, especially by law.

Question 13

Net pay

Answer 13

Take-home pay. The amount of salary remaining after tax deductions

Question 14

Premium

Answer 14

An amount to be paid for an insurance policy. A sum added to an ordinary price or charge

Question 15

ATM

Answer 15

(Automated teller machine)takes place of a human bank teller and allows the user to access basic bank services. (Making deposits, and cash withdrawls)

Question 16

Reconcile

Answer 16

To make one account consistent with another.

Question 17

Outstanding check

Answer 17

A financial instrument that draws on the funds in an individuals or business’ bank account but which has not yet been cashed or deposited by the payee.

Question 18

Checkbook register

Answer 18

A record of deposits to and withdrawals from a checking account.

Question 19

Franchise

Answer 19

Authorization granted by the government or company to an individual or group enabling them to carry out specified commercial activities (providing a broadcasting service)

Question 20

Paycheck stub

Answer 20

Piece of paper you receive from your employer when you are paid, showing how much money you have earned and how much tax has been taken away.

Question 21

Average

Answer 21

Purposes of comparison

Question 22

Copayment

Answer 22

A payment made by a beneficiary in addition to that made by an insurer

Question 23

Payee

Answer 23

A person to whom money is paid or is to be paid, especially the person to whom a check is made payable.

Question 24

Service charge

Answer 24

An extra charged assessed for a service.

Question 25

Prove cash

Answer 25

Reconciliation of the general ledger cash balance at both the beginning and end of a period