Peronsla Finance
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Created by:
hemanrocksyourworld on May 2, 2010
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29 terms
Terms | Definitions |
|---|---|
 bankrupt | when a business, or person, is unable to pay her or his debts |
| commission | the percentage of a sales price received by a salesperson for her or his services |
| credit bureau | an organisation that keeps on ®le the |
| creditor | a person who is owed money |
| debtor | a person who owes money |
| default notice | a document from a lender stating that a |
| dividend | sum payable as pro®t for shares |
| equities | represent a small slice of the ownership (a |
| fee | money paid to others for their services |
| fixed expenses | expenses that are the same amount |
| garnisheed | a certain amount of money can be taken outof the borrower's wages |
| guarantor | someone who guarantees to pay back the money if the borrower does not |
| impulse buying | buying something without giving much thought as to whether you really need it |
| income | money received on a regular basis from work, |
| interest | a payment made for the use of money that has been borrowed |
| investment | putting money into something in order to |
| net income | the amount a person has left after income tax is deducted |
| overtime | time during which work is done outside regular |
| premium | the cost of an insurance policy |
| profit | what remains after all business expenses are deducted from the sales revenue |
| rent | regular payment made by a tenant to an owner for |
| repossession | to take back goods bought on credit if repayments have not been made |
| royalty | a sum paid to authors, musicians etc. as a percentage of the proceeds from their work |
| salary | a fixed amount of money paid on a regular basis |
| secured loan | something deposited as a guarantee to |
| superannuation | a way of saving so an employee has some money in retirement. The employer makes set payments into a superannuation fund, which the employee cannot touch until she or he reaches a certain age |
| unsecured loan | nothing is deposited as a guarantee to |
| variable expenses | expenses that change over time |
| wage | money received by workers, usually on a weekly basis, for services they provide to an employer |
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