Managing Your Money

These depository institutions are for-profit, open to the public, and offer numerous financial services

This is charged if you withdraw more money from your account than is available

This type of account has limited access to your funds but is more likely to earn interest

Which of these is NOT a service offered by a depository institution?

Which is NOT a component of the Statement of Financial Position?

Taxes collected from the seller or retailer and as such often remain hidden in the price of a produce or service

This is the price paid for using someone else's money

This is the measure of financial wealth

The monetary value of all possessions that a person or household owns, minus the total amounts owed to others

Everything a person owns with monetary value

Sometimes referred to as a budget which records both planned and actual income and expenses over a period of time

This is the most basic, standard tax form available to the American public

Personal property that was purchased to create a lifestyle or improve your life

Payroll taxes pay for both Social Security and Medicaid

A tax on earned and unearned income

The FDIC and NCUA both insure up to what amount of money per person?

A product that transfers risk from an individual to a company or organization

A tax on purchased goods and services:

A sum of money demanded by a government to support the government itself as well as specific facilities or services

When is the last day (usually) to file your taxes?

What is Mr. Trader's favorite color?

Income received from sources other than employment

Assets that can be quickly and easily converted into cash

A machine that allows individuals to complete certain transactions from the machine without human assistance

Which is NOT one of the control systems we discussed in relation to Spending Plans?

A plastic card that is electronically connected to the cardholder’s depository institution account:

This type of account allows you to access your money at any time via a written check or a debit card

This type of depository institution is not for-profit, has membership qualifications, and has fewer services

A tax on earned income that supports the Social Security and Medicare programs

Which is NOT a special needs payment instrument?

Spending plans usually account for a month's worth of expenses

This NFL quarterback just announced his retirement after 20 years, 80,358 passing yards, and 597 career TDs

Statement that describes a person's financial condition on a specific date by showing assets, liabilities, and net worth

Assets - Liabilities = Net Worth

Lists and summarizes income and expense transactions that have taken place over a specific period of time

A debt or obligation owed to others

Income + Expenses = Net gain/Net loss