How can we help?

You can also find more resources in our Help Center.

Study sets matching "finance chapter 7 business personal"

Study sets
Classes
Users

Study sets matching "finance chapter 7 business personal"

19 terms
Personal Finance Chapter 7
direct deposit
ATM
debit card
commercial bank
An automatic deposit of net pay to an employee's designated b…
A computer terminal that allows a withdrawal of cash from an…
A cash card that allows you to withdraw money or pay for purc…
A for-profit institution that offers full range of financial…
direct deposit
An automatic deposit of net pay to an employee's designated b…
ATM
A computer terminal that allows a withdrawal of cash from an…
20 terms
Business and Personal Finance Chapter 7
Mobility
Tenant
Landlord
Lease
The ability to move easily from place to place
A person who pays for the right to live in a residence owned…
The person who owns the property that you rent
A legal document that defines the conditions of the rental ag…
Mobility
The ability to move easily from place to place
Tenant
A person who pays for the right to live in a residence owned…
20 terms
Business and Personal Finance Chapter 7
Mobility
Tenant
Landlord
Lease
The ability to move easily from place to place
A person who pays for the right to live in a residence owned…
The person who owns the property that you rent
A legal document that defines the conditions of the rental ag…
Mobility
The ability to move easily from place to place
Tenant
A person who pays for the right to live in a residence owned…
22 terms
Glencoe Business and Personal Finance Chapter 7
financial report
accounting period
accounting cycle
accounting equation
written records that summarize that results of financial tran…
a block of time covered by an accounting report
the activities or steps that help a business keep its account…
assets - Liabilities = Owner's Equity; the basis for keeping…
financial report
written records that summarize that results of financial tran…
accounting period
a block of time covered by an accounting report
20 terms
Personal Finance Chapter 7
add-on method
captive finance company
cash value (of life insurance)
chattel mortgage
A method of calculating interest by computing finance charges…
A sales finance company that is owned by a manufacturer of bi…
An accumulation of savings in an insurance policy that can be…
A mortgage on personal property given as security for the pay…
add-on method
A method of calculating interest by computing finance charges…
captive finance company
A sales finance company that is owned by a manufacturer of bi…
17 terms
Personal Finance ~ Chapter 7 Vocabulary
Revenue
Progressive Taxes
Regressive Taxes
Proportional Taxes
Incoming funds to the government.
Takes a larger share of income as the amount of income grows.…
Takes a smaller share of income as the amount of income grows…
(Also called Flat Taxes) Taxes for which the rate stays the s…
Revenue
Incoming funds to the government.
Progressive Taxes
Takes a larger share of income as the amount of income grows.…
14 terms
Personal Finance: Chapter 7
adjustable-rate mortgage (ARM)
amortization
appraisal
closing costs
A home loan with an interest rate that can change during the…
The reduction of a loan balance through payments made over a…
An estimate of the current value of a property.
Fees and charges paid when a real estate transaction is compl…
adjustable-rate mortgage (ARM)
A home loan with an interest rate that can change during the…
amortization
The reduction of a loan balance through payments made over a…
23 terms
Personal Finance Chapter 7
disposable income
financial plan
budget
fixed expenses
The money you have left to spend or save after taxes and othe…
A set of goals for spending, saving, or investing the money t…
A spending and saving plan based on your expected income and…
Costs that do not change from month to month. Example rent or…
disposable income
The money you have left to spend or save after taxes and othe…
financial plan
A set of goals for spending, saving, or investing the money t…
13 terms
Personal Finance Chapter 7
Auction
Consignment Shop
Cost-benefit Analysis
Estate Sale
A public sale in which property or items of merchandise are s…
Retail store where people sell items and the owner of the sho…
The process of quantifying costs and benefits of a decision.
Type of yard sale with more items, usually the entire content…
Auction
A public sale in which property or items of merchandise are s…
Consignment Shop
Retail store where people sell items and the owner of the sho…
9 terms
Personal Finance Chapter 7
Auction
Consignment Shop
Cost-Benefit Analysis
Estate Sale
a public sale in which property or items of merchandise are s…
retail store where people sell items and the owner of the sho…
the process of quantifying costs and benefits of a decision
type of yard sale with more items, usually the entire content…
Auction
a public sale in which property or items of merchandise are s…
Consignment Shop
retail store where people sell items and the owner of the sho…
9 terms
Chapter 7 Personal Finance
Auction
Consignment Shop
Cost-Benefit Analysis
Estate Sale
a public sale in which property or items of merchandise are s…
retail store where people sell items and the owner of the sho…
the process of quantifying costs and benefits of a decision
type of yard sale with more items, usually the entire content…
Auction
a public sale in which property or items of merchandise are s…
Consignment Shop
retail store where people sell items and the owner of the sho…
21 terms
Personal Finance Chapter 7
Revenue
Progressive Taxes
Regressive Taxes
Proportional Taxes
Funds given to the government through taxes.
Taxes that get larger as the amount of money being taxed incr…
Taxes that get smaller as the amount of money being taxed inc…
Taxes that stay the same rate as the amount of money being ta…
Revenue
Funds given to the government through taxes.
Progressive Taxes
Taxes that get larger as the amount of money being taxed incr…
14 terms
Personal Finance TC Chapter 7
Single-Payment or Balloon Loan
Installment Loan
Loan Amortization
Secured Loan
A loan that is paid back in a single lump-sum payment at matu…
a loan repaid with interest in equal periodic payments
the repayment of a loan using equal monthly payments that cov…
a loan backed by something valuable, such as property
Single-Payment or Balloon Loan
A loan that is paid back in a single lump-sum payment at matu…
Installment Loan
a loan repaid with interest in equal periodic payments
Personal Finance Chapter 7
Auction
Consignment Shop
Cost-benefit Analysis
Estate Sale
A public sale in which property or items of merchandise are s…
Retail store where people sell items and the owner of the sho…
The process of quantifying costs and benefits of a decision.
Type of yard sale with more items, usually the entire content…
Auction
A public sale in which property or items of merchandise are s…
Consignment Shop
Retail store where people sell items and the owner of the sho…
15 terms
CAPP Personal Finance Chapter 7
Truth in Lending Law
Finance charge
Annual percentage rate
Simple interest
Requires creditors to state the cost of borrowing as a dollar…
The total dollar amount paid to use credit. It includes inter…
The percentage cost of credit on a yearly basis.
The interest computed on principal only and without compoundi…
Truth in Lending Law
Requires creditors to state the cost of borrowing as a dollar…
Finance charge
The total dollar amount paid to use credit. It includes inter…
9 terms
Foundations in Personal Finance Chapter 7
Auction
Consignment shop
Cost-benefit analysis
Estate sale
A public sale in which property or items of merchandise are s…
Retail store where people sell items and the owner of the sho…
The process of quantifying costs and benefits of a decision.
Type of yard sale with more items, usually an entire contents…
Auction
A public sale in which property or items of merchandise are s…
Consignment shop
Retail store where people sell items and the owner of the sho…
14 terms
Personal Finance Chapter 7
Lease
Condominium
cooperative housing
zoning laws
A legal document that defines the conditions of a rental agre…
An individually owned housing unit in a building with several…
A form of housing in which a building containing a number of…
Restrictions on how the property in an area can be used
Lease
A legal document that defines the conditions of a rental agre…
Condominium
An individually owned housing unit in a building with several…
20 terms
Personal finance: Chapter 7
Truth in lending law!!!!!!!
finance charge!!!!!
annual percentage rate (apr)!!!!
Simple interest
a federal law that requires creditors to disclose the annual…
the total dollar amount paid to use credit. If borrowing $100…
the percentage cost (or relative cost) of credit on a yearly…
Interest computed on principal only and without compounding.…
Truth in lending law!!!!!!!
a federal law that requires creditors to disclose the annual…
finance charge!!!!!
the total dollar amount paid to use credit. If borrowing $100…
24 terms
Personal Finance Chapter 7 Vocab
Access Checks
Balance Transfer
Buying Plan
Cancellation Fee
Checks provided by a credit card company that allows you to b…
Moving a balance from one credit card to another
Organized method for making good buying decisions
A penalty for closing your account prior to a stated period
Access Checks
Checks provided by a credit card company that allows you to b…
Balance Transfer
Moving a balance from one credit card to another
10 terms
Personal Finance Chapter 7
consumer loans
collateral
529 College Savings Plan
single-payment loan
Loans made for specific purposes using formally negotiated co…
An item of value used to secure the principal portion of a lo…
A government sponsored investment vehicle that allows earning…
A loan made for a specified period, at the end of which payme…
consumer loans
Loans made for specific purposes using formally negotiated co…
collateral
An item of value used to secure the principal portion of a lo…
18 terms
Personal Finance: Chapter 7
Pre-approval certificate
Gross Debt Service (GDS) Ratio
Total Debt Service (TDS) Ratio
Multiple Listing Service (MLS)
Provides you with a guideline on how large a mortgage you can…
Your monthly mortgage related debt payments- including mortga…
Your mortgage-related debt payments plus all other consumer d…
An information database of homes available for sale through r…
Pre-approval certificate
Provides you with a guideline on how large a mortgage you can…
Gross Debt Service (GDS) Ratio
Your monthly mortgage related debt payments- including mortga…
11 terms
Chapter 7 Personal Finance
credit card
monthly statement
minimum payment
co-applicant
a card that allows you to buy things now and pay for them later
a form like a bank statement sent by your credit card company…
the least amout of your balance that you must pay to the cred…
a person who applies with you for a credit card account
credit card
a card that allows you to buy things now and pay for them later
monthly statement
a form like a bank statement sent by your credit card company…
chapter 7 personal finance
needs
wants
finacial recurces
cash flows
things needed for survival such as food, clothing, shelter, a…
things people desire for reasons beyond survival and basic co…
money or other items of value that are used to acquire goods…
income from your job, investments, and other sources
needs
things needed for survival such as food, clothing, shelter, a…
wants
things people desire for reasons beyond survival and basic co…
13 terms
Personal Finance Chapter 7
Markup
Estate Sale
Auction
Consignment Shop
The difference between the wholesale price and retail price.
Type of yard sale with more items, usually the entire content…
A public sale in which property of items of merchandise are s…
Retail store where people sell items and the owner of the sho…
Markup
The difference between the wholesale price and retail price.
Estate Sale
Type of yard sale with more items, usually the entire content…
22 terms
Personal Finance Chapter 7
Revenue
Progressive Taxes
Regressive Taxes
Proportional Taxes
Funds given to the government through taxes.
Taxes that get larger as the amount of money being taxed incr…
Taxes that get smaller as the amount of money being taxed inc…
Taxes that stay the same rate as the amount of money being ta…
Revenue
Funds given to the government through taxes.
Progressive Taxes
Taxes that get larger as the amount of money being taxed incr…
74 terms
Chapter 7 Personal Finance
a
c
b
c
38. When Jane researched the brands and prices of refrigerato…
39. While Paul was shopping for a new chainsaw, he found a gr…
40. Jacob drives by a Big Box home improvement center on his…
41. Which of the following is NOT a strategy for wise buying?…
a
38. When Jane researched the brands and prices of refrigerato…
c
39. While Paul was shopping for a new chainsaw, he found a gr…
71 terms
Personal Finance Chapter 7
Lifestyle
Traditional financial guidelines sugge…
RENTING vs buying:
Renting vs BUYING:
how you spend your time & money
"you should spend no more than 25 or 30 percent of your take-…
Advantages:... -Easy to move... -Fewer responsibilities for mainten…
Advantages:... -Pride of ownership... -Financial benefits... -Lifestyl…
Lifestyle
how you spend your time & money
Traditional financial guidelines sugge…
"you should spend no more than 25 or 30 percent of your take-…
30 terms
6e Personal Finance Chapter 7
Revenue
Progressive taxes
Regressive taxes
Proportional taxes
Incoming funds to the government
Take a larger share of income as the amount of income grows
Take a smaller share of income as the amount of income grows
Also called flat taxes, are taxes for which the rate stays th…
Revenue
Incoming funds to the government
Progressive taxes
Take a larger share of income as the amount of income grows
9 terms
Personal Finance Chapter 7
Auction
Consignment Shop
Cost-benefit analysis
Estate Sale
A public sale in which property or items of merchandise are s…
Retail store where people sell items and the owner of the sho…
The process of quantifying costs and benefits of a decision
Type of yard sale with more items, usually the entire content…
Auction
A public sale in which property or items of merchandise are s…
Consignment Shop
Retail store where people sell items and the owner of the sho…
9 terms
Chapter 7 Personal Finance
Auction
Consignment shop
Cost-benefit analysis
Estate Sale
A public sale in which property or items of merchandise are s…
Retail store where people sell items and the owner of the sho…
The process of quantifying costs and benefits of a decision
Type of yard sale with more items, usually the entire content…
Auction
A public sale in which property or items of merchandise are s…
Consignment shop
Retail store where people sell items and the owner of the sho…
Personal Finance Chapter 7
Auction
Consignment Shop
Cost Benefit Analysis
Estate Sale
A public sale in which property or items of merchandise are s…
Retail store where people sell items and the owner of the sho…
The process of quantifying costs and benefits of a decision
Type of yard sale with more items, usually the entire content…
Auction
A public sale in which property or items of merchandise are s…
Consignment Shop
Retail store where people sell items and the owner of the sho…
29 terms
Chapter 7 Personal Finance
mobility
tenant
landlord
lease
the ability to move easily from place to place
a person who pays for the right to live in a residence owned…
the person who owns the property that is rented
a legal document that defines the conditions of the rental ag…
mobility
the ability to move easily from place to place
tenant
a person who pays for the right to live in a residence owned…
21 terms
Personal Finance- Chapter 7
An acceleration clause is a
A balloon loan is a
Bankruptcy is a person's legal right
When a lender requires that a person p…
Loan term that requires immediate repayment of an outstanding…
Special type of installment loan for which the regular instal…
Under the US bankruptcy act of 1978 to ask a court of law to…
The pledge of valuable assets or real property that can be ta…
An acceleration clause is a
Loan term that requires immediate repayment of an outstanding…
A balloon loan is a
Special type of installment loan for which the regular instal…
32 terms
Personal Finance - Chapter 7
Add-on interest Method
Adjusted balance Method
Annual Percentage Rate (APR)
Average Daily Balance Method
A method of computing interest in which interest is calculate…
Finance charges are added after subtracting payments made dur…
cost of borrowing money on an annual basis; takes into accoun…
the daily balance over the past month averaged to calculate t…
Add-on interest Method
A method of computing interest in which interest is calculate…
Adjusted balance Method
Finance charges are added after subtracting payments made dur…
22 terms
personal finance chapter 7
revenue
progressive taxes
regressive taxes
proportional taxes
money collected by the government from citizens and businesse…
taxes that take a larger amount of income as income grows
taxes that take a smaller share of income as the amount of in…
taxes for which the rate stays the same regardless of income
revenue
money collected by the government from citizens and businesse…
progressive taxes
taxes that take a larger amount of income as income grows
18 terms
Personal Finance-Chapter 7
Purpose of Taxes
Progressive Tax
Regressive Tax
Flat Tax (Proportional Tax)
In a free enterprise system such as ours, the gov't collects…
Definition- Take a larger share of income as the amount of in…
Definition- Take a smaller share of income as the amount of i…
Definition- Taxes for which the rate stays the same, regardle…
Purpose of Taxes
In a free enterprise system such as ours, the gov't collects…
Progressive Tax
Definition- Take a larger share of income as the amount of in…
9 terms
Personal Finance Chapter 7
auction
consignment shop
cost-benefit analysis
estate sale
a public sale in which property or items of merchandise are s…
retail store where people sell items and the owner of the sho…
the process of quantifying costs and the benefits of a decision
type of yard sale with more items, usually the entire content…
auction
a public sale in which property or items of merchandise are s…
consignment shop
retail store where people sell items and the owner of the sho…
25 terms
Chapter 7 Personal Finance
dividends
stock
capital gain
common stock
company earnings distributed to shareholders, usually in the…
an investment in the ownership of the cooperation, usually re…
the profit from the sale of assets such as stocks, bonds, or…
a stock whose owner has voting rights and receivers dividends…
dividends
company earnings distributed to shareholders, usually in the…
stock
an investment in the ownership of the cooperation, usually re…
15 terms
Personal Finance Chapter 7
Direct Deposit
Automated Teller Machine
Debit Card
Commercial Bank
an automatic deposit of net pay to an employee's designated b…
a computer terminal that allows a withdrawal of cash from an…
which is a cash card that allows you to withdraw money or pay…
for-profit institution that offers a full range of financial…
Direct Deposit
an automatic deposit of net pay to an employee's designated b…
Automated Teller Machine
a computer terminal that allows a withdrawal of cash from an…
17 terms
Chapter 7 ( Personal Finance)
Revenue
Progressive Taxes
Regressive Taxes
Proportional Taxes
the incoming funds to the government
take a larger share of income as the amount of income grows
take a smaller share of income as the amount of the income gr…
are taxes for which the rate stays the same, regardless of in…
Revenue
the incoming funds to the government
Progressive Taxes
take a larger share of income as the amount of income grows
15 terms
Personal Finance Chapter 7
Truth in Lending Law
Finance charge
Annual Percentage Rate (APR)
Simple Interest
A federal law that requires creditors to disclose the annual…
The total dollar amount paid to use credit.
The percentage cost (or relative cost) of credit on a yearly…
Interest computed on principal only and without compounding.
Truth in Lending Law
A federal law that requires creditors to disclose the annual…
Finance charge
The total dollar amount paid to use credit.
29 terms
Personal finance Chapter 7
bonus
commission
compensation
disability
money added to employee's base pay, usually a reward for perf…
income paid as a percentage of sales made by a salesperson
payment and benefits received for work
a limitation that affects a person's ability to function in m…
bonus
money added to employee's base pay, usually a reward for perf…
commission
income paid as a percentage of sales made by a salesperson
15 terms
Personal Finance Chapter 7
Truth in Lending law:
Finance Charge:
Annual percentage rate:
Simple Interest:
A federal law that requires creditors to disclose the annual…
The total dollar amount paid to use credit.
The percentage cost ( or relative cost) of credit on a yearly…
Interest computed on principal only and without compounding.
Truth in Lending law:
A federal law that requires creditors to disclose the annual…
Finance Charge:
The total dollar amount paid to use credit.
personal finance chapter 7
Earned income
Wage
Minimum Wage -
Piecework Income -
Income from employment .
A payment in exchange for an employee's labor or services
Is the lowest hourly wage employers can pay most workers by l…
based on a rate per unit of work completed
Earned income
Income from employment .
Wage
A payment in exchange for an employee's labor or services
20 terms
Chapter 7 Personal Finance
Mobility
Tenant
Landlord
Lease
the ability to move easily from place to place
a person who pays for the right to live in a residence owned…
the person who owns the property that you rent
a legal document that defines the conditions of the rental ag…
Mobility
the ability to move easily from place to place
Tenant
a person who pays for the right to live in a residence owned…
20 terms
Personal Finance Chapter 7
Mobility
Tenant
Landlord
Lease
All types of movement from one location to another
A person who pays for the right to live in a residence owned…
One who rents his or her property to another. The lessor unde…
a contract granting use or occupation of property during a sp…
Mobility
All types of movement from one location to another
Tenant
A person who pays for the right to live in a residence owned…
20 terms
Personal Finance Chapter 7
Mobility
Tenant
Landlord
Lease
The ability to move freely and from place to place.
A person who pays for the right to live in a residence owned…
The person who owns the property that you rent.
A legal document that defines the conditions of the rental ag…
Mobility
The ability to move freely and from place to place.
Tenant
A person who pays for the right to live in a residence owned…
22 terms
Chapter 7 personal finance
Revenue
Progressive taxes
Regressive taxes
Proportional taxes
Income funds to the government
Take a larger share of income as the amount of income grows
Take a smaller share of income as the amount of income grows
( flat taxes) are taxes for which the rate stays the same reg…
Revenue
Income funds to the government
Progressive taxes
Take a larger share of income as the amount of income grows
20 terms
Personal Finance Chapter 7
Mobility
Tenant
Landlord
Lease
The ability to move easily from place to place
A person who pays for the right to live in a residence owned…
The person who owns the property that you rent
A legal document that defines the conditions of the rental ag…
Mobility
The ability to move easily from place to place
Tenant
A person who pays for the right to live in a residence owned…
20 terms
Personal Finance Chapter 7
Money in a mutual fund is called a dem…
A prepaid phone card is an example of…
A savings and loan association origina…
A finance company generally charge hig…
False
False
True
True
Money in a mutual fund is called a dem…
False
A prepaid phone card is an example of…
False
1 of 10