Help
Options
Term
ATM
click to flip
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't know
Term
Account balance
Remaining cards (29)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Budget and Banking
| Term | Definition |
|---|---|
| ATM | A banking terminal that accepts deposits and dispenses cash |
| Account balance | The total amount of money owed to a third party |
| Bank Reconciliation | A process that explains the difference between the bank balance shown in an organization's bank statement |
| Budget | An estimate of income and expenditure for a set period of time |
| Checking Account | an account at a bank against which checks can be drawn by the account depositor |
| Cleared Check | The process of moving a cheque from the bank in which it was deposited to the bank on which it was drawn |
| Credit Union | A nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates |
| Debit Card | A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase |
| Deposit | A sum of money placed or kept in a bank account, usually to gain interest |
| Direct Deposit | The electronic transfer of a payment directly from the account of the payer to the recipient's account |
| Endorse | Sign on the back to make it payable to someone other than the stated payee |
| Expense | the cost required for something |
| FDIC | Independent agency of the U>S> federal government that preserves public confidence in the banking system by insuring deposits |
| Fees | Make a payment to someone in return for services |
| Financial Literacy | The ability to understand how money works in the world |
| Financial Security | The condition of having the resources to support a standard of living now |
| Fixed Expense | Costs that do not fluctuate with changes in production level |
| Income | Money received |
| Interest | Money paid regularly at a particular rate |
| Loan Overdraft | A limit on borrowing on a bank current account |
| Memo | A written message |
| Needs | Require something because it is essential |
| Non-sufficient funds (NSF) | Used in the banking industry to signify that there are "non-sufficient funds" in an account in order to honor a check drawn on that account |
| Online Banking | An electronic payment system that enables customers of a financial institution to conduct financial transactions on a website operated by the institution |
| Payee | A person to whom money is paid or is to be paid |
| Payer | Someone who pays a bill for productions |
| Savings | The money one has saved |
| Variable Expenses | A corporate expense that varies with production output |
| Wants | Have a desire to possess or do something |
| Withdrawal | An act of taking money out of an account |
Created by:
Ndawley19
Popular Finance sets