Abeka 8 Pre-Algebra Business Mathematics – Flashcards
Unlock all answers in this set
Unlock answersquestion
Budget
answer
A Plan to pay bills and meet expenses
question
check
answer
an order for a bank to pay money
question
checkbook register
answer
A checking account record kept in a part of the checkbook separate from the checks.
question
commission
answer
A percentage of a sale paid to a salesman for his service
question
constant ratio formula
answer
A formula used to compute the annual percentage rate on a loan or installment plan
question
deductions
answer
something you take out of your bank account
question
employees
answer
a person hired to do a job
question
employer
answer
A person or business who hires people
question
F.I.C.A
answer
Congressional act requiring employers to withhold social security and medicare tax from employees' paychecks
question
gross pay
answer
money earned before any payroll deductions are made
question
interest
answer
A fee charged or paid for the use of money
question
Installment buying
answer
buying on time that allows customers to make small payments at regular intervals instead of one large payment at the time of purchase
question
net pay
answer
money a person receives after all payroll deductions have been made
question
principle
answer
money on which interest is paid
question
property tax
answer
tax on real estate, personal property, or business property, or business levied by the state or local government
question
sales tax
answer
A Tax on the sale of goods and services and services which may be by any level of government
question
W-2 form
answer
income tax return form
question
W-4 form
answer
is used to determine how much federal income tax is whithheld from each paycheck
question
transit number
answer
number used to identify a check on a deposit slip
