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Week 9 Vocabulary-EW
Vocab
| Question | Answer |
|---|---|
| income tax | money paid to federal and/or state governments based on an individual's income as required by law |
| net income | the income that remains after taxes and other deductions are taken from an individual's gross income |
| payroll tax | the amount of money that a company withholds from its employees for the federal government as required by law |
| property tax | the amount of money collected on the value of a property for the local government as required by law |
| sales tax | the amount of money collected by a store (retailer), in addition to a good or service that was purchased, for the local government as required by law |
| budget | a monthly or yearly spending and savings plan for an individual, family, business, or organization |
| register | a small table to track deposits added to account, expenses withdrawn from account, and current available balance |
| available balance | the amount available in an account for a person, business, or organization to spend |
| balance | to reconcile your budget or account statement with your check register to make sure the records match and are accurate |
| transaction | a specific time or instance when money changes hands |
| financial record | a formal record of the transactions made by a person, business, or other organization |
Created by:
whitee
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