Financial Terms Flashcards

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Balance

Back

The amount of money that you actually have available in your account.

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Cash Flow

Back

The movement of money in and out of your account, which is positive if income is greater than expenses, and negative if income is less than expenses.

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Credit

Back

A positive transaction in your account, one that adds money.

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Debit

Back

A negative transaction in your account that removes money.

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Expenses

Back

The amount of money spent to buy goods and services for personal or business use.

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Income

Back

Money earned through employment and investments.

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Minimum Wage

Back

The lowest amount of pay per hour that an employee can legally earn.

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Profit

Back

Money that is left after expenses have been paid from a business or an investment.

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Revenue

Back

Money or income that is earned, usually in a business.

Front

Taxes

Back

Money collected by the government to help pay for society's expenses.