CFC Chapter 10 Key Terms

The amount of money that an operation owes suppliers from which it has purchased goods, products, or services.

• Accounts receivable

• Accounts payable

• Petty cash

• Counterfeit currency

A financial examination of an organization’s accounts.

• Fraud

• Embezzlement

• Auditing

• Overcharging

The three-digit code on the back of most credit cards.

• Card verification value

• Card account value

• Card verification volume

• Verified card account

The working together of two or more employees for dishonest purposes.

• Collusion

• Collaboration

• Partnering

• Embezzlement

Money that is produced to resemble official legal currency closely enough that it may be confused for genuine currency.

• Fake money

• Fraud

• Monopoly money

• Counterfeit currency

The price of an item multiplied by the number of items being purchased.

• Multiplier

• Extension

• Factor

• Total cost

An intentional deception to cause a person to give up property or some lawful right.

• Theft

• Cheating

• Fraud

• Embezzlement

A discount on a meal offered by a manager because the guest was not satisfied with the quality of the food or service.

• Guest relations discounts

• Employee discount

• Comps

• Freebie

A designated account where funds from guest credit card payments can be sent.

• Merchant account

• Debit account

• Bank cash vault

• Accounts receivable

A company that facilitates the transaction between an operation and the card issuer, also known as clearing.

• Payment Card Industry (PCI)

• Merchant account

• Accounts payable

• Merchant services provider