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Cash

money or an equivalent, as a check, paid at the time of making a purchase

Credit

time allowed for payment for goods or services obtained on trust:

Debit

an electronic check; an alternative method to cash when making a payment

Electronic Funds Transfer

is the electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.

Paper Money

currency in paper form, such as government and bank notes, as distinguished from metal currency.

Coins

a piece of metal stamped and issued by the authority of a government for use as money.

Government Bonds

is a debt investment in which an investor loans a certain amount of money, for a certain amount of time, with a certain interest rate, to a company. It is issued by the national government in the country's own currency.

Treasury Notes

A marketable U.S. government debt security with a fixed interest rate and a maturity between one and 10 years.

Medium of Exchange

money's most important function; used to facilitate transactions

Unit of Measure

provides a common measure of the value of goods and services being exchanged

Store of Value

money must hold its value over time

wages

money that is paid or received for work or services, as by the hour, day, or week.

salary

a fixed compensation periodically paid to a person for regular work or services.

interest

a sum paid or charged for the use of money or for borrowing money.

rent

to grant the possession and enjoyment of (property, machinery, etc.) in return for the payment of rent from the tenant or lessee. (often fol. by out ).

dividends

a sum of money paid to shareholders of a corporation out of earnings.

capital gains

profit from the sale of assets, as bonds or real estate.

transfer payments

any payment made by a government for a purpose other than that of purchasing goods or services, as for welfare benefits.

gross pay

total pay before any deductions are subtracted

hourly wage

amount earned for each hour worked

standard work day

40 regular hours a week

overtime

time worked beyond the regular hours - pay is 1 1/2 times the regular rate of pay

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