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Occ prep > Unit 2 occprep > Flashcards

Unit 2 occprep Flashcards

1
Q

Transaction

A

A deposit or withdrawal from an account

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2
Q

Deposit

A

An amount of money that you ADD to an account

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3
Q

Credit Card

A

A card that is used to borrow money BUT you must pay it back or you get charged interest on top of what you borrowed.

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4
Q

Debit Card

A

A card that you use to purchase things, and the amount comes directly out of your checking account.

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5
Q

Checking Account

A

An account that you open at a bank that you can access multiple times a day if needed.

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6
Q

Savings Account

A

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

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7
Q

Direct Deposit

A

Getting paid by your employer depositing money DIRECTLY into your checking account

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8
Q

Withdrawal

A

TAKING OUT money from an account

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9
Q

Balance

A

The amount of money in an account at any given time

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10
Q

Loan

A

An amount of money that you owe a person or business and will possibly be charged interest

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11
Q

Interest

A

A PERCENTAGE of the balance that is in addition to the balance

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12
Q

Fee

A

Is a set of amount of money that you must pay

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13
Q

Identity Theft

A

When a person uses someone else’s identity (SSN - Social Security Number to purchase items or open accounts

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14
Q

Transfer

A

Moving money from one account to another account.

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15
Q

Debt

A

To OWE someone or something an amount of money

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16
Q

Personal check

A

Is paper form of payment that is from your checking account

17
Q

Penalty

A

An additional amount of money that you must pay for a negative transaction

18
Q

Value

A

An amount of money that something is worth

19
Q

Total

A

Adding or subtracting ALL of the amount of money

20
Q

Budget

A

Setting aside a certain amount of money for a certain item or event

21
Q

Income

A

An amount of money that you have earn for service

22
Q

Gross Income

A

The amount of money you earn BEFORE expenses are taken out

23
Q

Price

A

Is the amount of money that something costs

24
Q

Range

A

A low and a high price for an item, but also includes any money amount in between

25
Q

Unit Price

A

How much each item in the package costs

26
Q

Net income

A

The amount of money you earn AFTER expenses are taken out.

27
Q

Sales Tax

A

Is a percentage (%) of money you must pay on top of the cost of an item.

28
Q

Coupon

A

Gives you a discount on a specific item(s)

29
Q

Discount

A

An amount (percentage%) of a group of items

30
Q

Sale

A

Is a discount taken off of items through out the store or business

Occ prep (5 decks)

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