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20 Cards in this Set
- Front
- Back
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accelerated depreciation
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a method of depreciation in which greater depreciation is recorded during the early years of the estimated useful life of an asset
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adjustable rate mortgage
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a mortgage in which the interest rate charged is adjusted periodically to more closely reflect current interest rates.
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brokerage fee
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a fee charged for the services of a stockbroker
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closing costs
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the fees paid at the time documents are signed transferring ownership of real estate
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commercial zone
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land area that is designated for business
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commission rate
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a specified percent of total sales of specified amount of money paid for selling a product
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conventional mortgage
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a mortgage in which a fixed interest rate is charged and fixed payments are made on the loan throughout the term of the loan
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cost of goods sold
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the amount that a business spends to buy or produce the goods it sells
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depreciation
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the loss in value of physical property due to use
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down payment
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the initial cash payment made at the time of purchase when an item is paid for with an installment loan
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exchange rate
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the value of the currency of one nation expressed in terms of another nation's currency
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fair labor standards act
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a law enacted by congress which permits the federal government to set a min wage and requires that employees receive overtime pay for working more than 40 hours per week
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installment loan
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a loan that is repaid in several equal payments over a specified period of time and for which the total finance charge is known at the time of purchase
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inventory
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a list of goods purchased by a company and held for resale to customers.
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average daily balance
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a means of determining finance charges on an open-end credit account
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net income
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the difference between the gross profit and total operating expenses
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odd pricing
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the pricing strategy of setting a price slightly below a whole number of dollars
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points
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a fee charged by lenders for a real estate loan
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tariff
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a sked of taxes levied on goods as they are imported into a country or exported out of a country
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universal product code upc
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a bar code printed on the package of a product intended for resale to the consumer
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