2. Credit
the ability of a customer to obtain goods or services before payment,
based on the trust that payment will be made in the future.
3. Debit
an entry recording an amount owed, listed on the left-hand side or column of
an account.
4. Interest
money paid regularly at a particular rate for the use of money lent, or for
delaying the repayment of a debt.
5. Gross pay
money you've made while working at your job, figured before any deductions
are taken for state and federal taxes
6. Net Pay
The amount of wages that employees actually take home.
7. Fixed Expenses
those that do not fluctuate with changes in production level or sales volume.
They include such expenses as rent, insurance, dues and subscriptions,
equipment leases, payments on loans, depreciation, management salaries,
and advertising.
8. Variable Expenses
are those costs that vary depending on a company's production volume; they
rise as production increases and fall as production decreases.
9. Consumable goods
are goods that are capable of being consumed; that may be destroyed,
dissipated, wasted, or spent.
10. Durable Goods
goods not for immediate consumption and able to be kept for a period of
time.
11. FICA
a United States federal payroll tax imposed on both employees and
employers to fund Social Security and Medicare—federal programs that
provide benefits for retirees, the disabled, and children of deceased workers.
12. Salary
a fixed regular payment, typically paid on a monthly or biweekly basis but
often expressed as an annual sum, made by an employer to an employee,
especially a professional or white-collar worker.
17. Interest
money paid regularly at a particular rate for the use of money lent, or for
delaying the repayment of a debt.
18. Salary
a fixed regular payment, typically paid on a monthly or biweekly basis but
often expressed as an annual sum, made by an employer to an employee,
especially a professional or white-collar worker.
19. Mortgage
the charging of real (or personal) property by a debtor to a creditor as
security for a debt (especially one incurred by the purchase of the property),
on the condition that it shall be returned on payment of the debt within a
certain period.
