Fall 2024 Business Financial Final Exam

Front

What is the principal in finance?

Back

The amount of money earning interest.

Front

What is a commission?

Back

An amount of money paid to a sales agent based on how much they sold in a period of time.

Front

What is debt?

Back

Money you have borrowed and need to pay back.

Front

What type of account earns interest?

Back

Savings Account.

Front

What is net pay?

Back

The amount of money you have left after your employer subtracts all tax withholdings and personal deductions from your gross pay.

Front

What is unit pricing?

Back

A pricing strategy that allows consumers to compare the price of products based on a standard unit of measure.

Front

What is a checking account?

Back

A bank account that allows for deposits and withdrawals, typically used for everyday transactions.

Front

What is a markdown rate?

Back

The percentage by which the original price of a product is reduced.

Front

What is wholesale?

Back

The sale of goods in large quantities at lower prices, typically to be retailed by others.

Front

What is flat tax?

Back

A tax system with a constant tax rate applied to all income.