24/25 PFL Flashcard

Front

What is trading money for goods or services called?

Back

Spending

Front

Which of the following is a Fixed Expense? Electric Bill, Grocery Bill, Netflix Subscription, Vacation Bill?

Back

Netflix Subscription

Front

Which of the following is NOT a Financial Institution? Members Choice Credit Union, Target, Bank of America, Chase?

Back

Target

Front

What is it called when you place money into an account?

Back

Deposit

Front

What is the equation we use to find profit?

Back

P=I-E

Front

What is a Fixed Expense?

Back

An expense that does not change month to month, like a subscription.

Front

What is a Variable Expense?

Back

An expense that can change from month to month, like groceries.

Front

What is a Financial Institution?

Back

An organization that provides financial services, like banks and credit unions.

Front

What does 'Deposit' mean?

Back

To put money into a bank account.

Front

What does 'Withdrawal' mean?

Back

To take money out of a bank account.