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20 Cards in this Set

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