unit 2

Question 1

Checking account

Answer 1

an account at a bank against which checks can be drawn by the account depositor.

Question 2

Credit card

Answer 2

a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit.

Question 3

Debit card

Answer 3

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

Question 4

Savings account

Answer 4

an account that you add money to frequently but only take out money

Question 5

checking account

Answer 5

an account at a bank against which checks can be drawn by the account depositor.

Question 6

Direct deposit

Answer 6

getting paid by your employer depositing money directly into your checking account

Question 7

withdrawal

Answer 7

take money out of the checking account.

Question 8

Balance

Answer 8

the amount of money that you have in an account

Question 9

Loan

Answer 9

an amount of money that you owe a person or a business that charges interest

Question 10

Earnings

Answer 10

money obtained in return for labor or services.

Question 11

Interest

Answer 11

a percentage of the balance that is in an addition to the balance.

Question 12

Fee

Answer 12

is a set amount of money that you must pay

Question 13

Transaction

Answer 13

an instance of buying or selling something; a business deal.

Question 14

Identity theft

Answer 14

someone that steals your identity or takes your cards away from you

Question 15

Debt

Answer 15

to owe someone money

Question 16

Transfer

Answer 16

moving money to another account

Question 17

transaction

Answer 17

final amount

Question 18

deposit

Answer 18

demand (an amount) as a price from someone for a service rendered or goods supplied.

Question 19

Personal check

Answer 19

drawn against funds deposited in your personal checking account

Question 20

Penalty

Answer 20

a punishment imposed for breaking a law, rule, or contract.

Question 21

Value

Answer 21

the regard that something is held to deserve; the importance, worth, or usefulness of something.

Question 22

Total

Answer 22

comprising the whole number or amount.

Question 23

Budget

Answer 23

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

Question 24

Income

Answer 24

money received, especially on a regular basis, for work or through investments.

Question 25

Gross income

Answer 25

For households and individuals, gross income is the sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings, before any deductions or taxes.

Question 26

Income

Answer 26

money received, especially on a regular basis, for work or through investments.

Question 27

Price

Answer 27

the amount of money expected, required, or given in payment for something.

Question 28

Range

Answer 28

the area of variation between upper and lower limits on a particular scale.

Question 29

Unit price

Answer 29

Average prices represent, quite simply, total sales revenue divided by total units sold

Question 30

Sale

Answer 30

the exchange of a commodity for money; the action of selling something.