IBT-Units 5-11 Final Exam Study Guide

Front

The action or process of keeping financial accounts.

Back

Accounting

Front

A resource with economic value that an individual, corporation or country owns or controls with the expectation that it will provide future benefit.

Back

Asset

Front

Listed on the left hand side of the column of an account.

Back

Debit

Front

Listed on the left hand side of the column of an account.

Back

Debit

Front

Listed on the right hand side of the column of an account.

Back

Credit

Front

Accepts deposits from customers. These deposits may be placed in a checking account, a savings account, or certificates of deposit.

Back

Depository Institutions

Front

Do not accept deposits, but do offer their customers a variety of financial services.

Back

Non-Depository Institutions

Front

Low credit score equals higher interest rates.

Back

True

Front

Report that lists identifying information, credit accounts past & present you have had and how you've paid them, applications for credit you've made, etc.

Back

Credit Report

Front

Emergency funds are "_____" to "____" months of living expenses.

Back

3 to 6