U3 Topic 3

A bank payment scheme that allows electronic payments to be made between bank accounts; usually low-value payments.

• Bocs

• Bacs

• CHAPS

• CHOPS

when the flow of cash out of a business's bank account is greater than the flow of cash in.

• Budget surplus

• Budget maximisation

• Budget deficit

• Budget loss

When the flow of cash into a business is greater than the flow of cash out.

• Budget surplus

• Budget loss

• Budget deficit

• Budget gain

A term for money, property, equipment, vehicles and other assets that a business owns and can use to run the business.

• Cash

• Capital

• Wonga

• Dollar

A financial document that shows the predicted inflows and outflows of cash over a given period of time, for example 12 months.

• Cash flow statement

• Cash surplus

• Cash deficit

• Cash flow forecast

The electronic system used for very high-value payments to and between large companies.

• Bacs

• Bocs

• CHOPS

• CHAPS

A written order from a bank customer to pay someone else (the payee).

• Check

• Cheque

• Chequer

• Checker

A plan that prepares an organisation to respond to an unexpected event.

• A contingent plan

• A contingency plan

• An accident plan

• An incident plan

A form of payment; allows the cardholder to borrow money by paying for things this credit card, but high high interest rates unless the balance is paid in full every month.

• Debit card

• Pre-payment card

• Loan card

• Credit card

A card used by a current account holder to make payments or withdraw money.

• Credit card

• Pre-payment card

• Debit card

• Current card