Principles of Business
Terms in this set (11)
Ready cash, such as money in hand, petty cash, bank account balance, and money market accounts.
Bank card used in cash transactions, but is not a credit card. The amount of a purchase is withdrawn directly from the available balance in the cardholder's account.
A bank card that is used in financial transactions. The card holder draws on a line of credit provided by the card issuer. Cardholders must pay for purchases within 30 days to avoid interest or penalties.
The maximum amount of money a borrower can change or withdraw from a particular credit amount.
Electronic Funds Transfer
The electronic exchange or transfer of money from one account to another.
Automatic transfer of salaries, wages , rents, benefits, or other sums directly to the account of an employee.
Arrangement under which an investor receives periodic cash payments drawn directly from an account.
Goods and services trade
To exchange a good or service as a form of payment.
Paper form of money used to pay a stated amount of money to a named party. This is usually a slow process.
Prepaid Credit Card
A credit card with a pre-deposited balance, like a store gift card.