Financial Terms Flashcards

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Bartering

Back

Trading items other than money.

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Base Pay

Back

Employee’s total pay before deductions.

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Biweekly Pay Period

Back

Pay structure in which employees are paid every two weeks, often on a Friday.

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Commission

Back

Percentage of the amount of a business transaction paid to a sales agent or broker.

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Contract

Back

Formal agreement between two or more entities, such as people or organizations.

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Direct Deposit

Back

Automatic deposit of a person’s paycheck into his or her checking account.

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Earned Income

Back

Pay the employee receives for the work performed.

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Employer

Back

Person or company who hires a person and pays him or her for work done.

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Entrepreneur

Back

Person who starts a business venture and assumes the risk of its success or failure.

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Gross Pay

Back

Employee’s total pay before deductions.