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88 Cards in this Set

  • Front
  • Back
(t/f)a person can not claim himself as an exeptions if they are claimed as a dependent on another person's tax return
when determining how much to be depoisited onto an emergency savings account, a person should save a minumium _____% of thier net income.
a yearly report of corporations
annual report
to write a date on a check that is weeks or months into the future
post date
economic study that focuses oth the choices and interactions of the indivuals
managed company that pools its investor's $ and buys lare variety of secruites
mutual fund
in case of a loss, this coverage pays today's cost for an item of simalar quality
replacement value
usually has the lowest interest rate
regular savings acount
the value of any alternative(s) not choosen when you make a trade-off
opportunity costs
broker type that *only* places buy or sell orders fro tthier clients
discount brokers
covers property or personal damage you cause to others
3 characterists if the "perfect" investement account which were not characteristics of a perfect savings account
tax benefits, growth that exceeds interest rates, low purchase price
form reporting allowences, used to determine the amount of federal income to deduct income tax from an employees gross pay
Form W-4
a rise in the level of prices
money owed to others
has a definate maturity date
ecpnomic system in which both consumers and producers are free to engage in business and transactions w/ min. gov. interference
free enterprise
debt obligations of cor. of gov'ts
indivaully listing allowable deductions instead of using the standard deduction amount
any transactions that the owner of the account has completed and has recorded in thier chech register but has not been processed by the bank @ the time the statement is issued
the choosing of alternative caused by scarcity is called making a ____.
the amount the bondholder will be paid @ maturity
face value
primary purpose of the IRS
recieve and check some of the income taxes
no guarantee of gain
Money market
the willingness and ablitity of consumers to purchase a prodcut @ a certain price
debt obligations of business, used to raise money
corporate bonds
when your assets are less than your liabilites
a check drawn against the bank's own funds, used to guarenentee payment
cashiers check
all activities releated to the production and distribution of goods and services in a geo. area are
(t/f)an investor in amunicipal bonds does not have to pay federal income tax on the interest earned
(t/f)the lower the p.e.ratio, the better the investement
In a market economy every person is a
to spread the risks among many types of investements
type of tax that the % of income being taxed increases as the income level increases
(t/f)the shareholder of record date is the day that corportion pays a diviend
In a market economy,____ has the final say in what is produced and @ what price
a centralixed marketplace where brokers who represent investors meet to buy and sell
stock(securities) exchange
potentional losses that involve a person's income and standard of living
personal risk
the name for a shareholder's abllot, which allows he to transfer voting rights to someone else
pays benefits when you lose your job through no fault of your own
unemployment compensation
3 wyas an investor can earn money w/ a mutual fund
dividends, capital gain, net asset value
(t/f)the more allowences tou are able to claim on your Form W-4, the more federal tax will be with held from your growth pay
a computerized network of brokers who buy and sell securities of cor. that are not listed on an exchange
another name for social security
(t/f)the more money a person nvests,the more a person should diversify
3 indicators of a persons ablaity to pay income tax
filling status, income, allowances
debt obligations of state and local gov'ts
municipal bonds
situation occuring where there is only one producer or supplier of a good or service
a contract isued by an insurance company to pay you reg. income
4 types of S.S benefits
health insurance, disablity, surviorship, old age/ retirement
a mutual fund that does not charge a commission for buying/selling
economic study that focuses on the behavior and choices and interactions of whole economics
borrowing money to buy stocks
margin buying
the social science that dels whith how socity allocates its limites resources amoungs its unlimited wnats and needs
represents ownership in the corporation
the amount the insured person will have to pay on some types of coverages before teh the insurance company will pay the remainder of the claim
(t/f)paying the highest price for an item always means your getting the best quality
commonly known as the long tax form
Economic condtion that exists when there are limited resources avalible to satisfy the unlimited wants and needs
provided by finacial institions that reports taxable income earned for that year.
the total agreed upon salary or pay before deductions
gross pay
an examination of a tax return by the IRS
pays benefits for on the job injuries
workers' compensation
who has the abablity to levy taxes on the people of the US
house of Reps
term meaning the amount of pay left after all deductions are subtracted from the gross pay
net pay
a demand for payment for a loss under the terms of the insurance policy
allows eligible employees to take unpaid leave for certain family or medical reasons.
Family and Medical Leave Act
a suu[let to insurance providing additional protection limits and some risks previouly excluded
3 conditions that must exist for a free enterprise system to work
competion, purchasing power, informed consumers
a person who calculates insurance premiums a pecialist on insurance statistics
the price @ which the quanity supplied equals the quanity demanded
equilibrium price
repairs to your car when involved in an accident
Form reporting total wages earned and total income, social secrurity, and medicare taxes paid in a calender year.
Form W-2
(t/f) employees are required to match and submit gov. amounts that equal what is deducted from an employees pay check for FICA
(t/f)Being able to claim dependents will result in a higher # of allowences being recorded on an eomplyess's W-4 form
Status that allows for no federal income to be with held from a worker's paycheck
(t/f)the more exeptions a taxpayer claims, the more tax the taxpayer will pay
taxes that take smaller share of teh income as the income grows
Claiming zero allowences will result in $0 federal income tax being deducted from an employees paycheck
(t/f)taxpayers should not itemize unless thier deductions exceeded the standard deductions amount
a policy that protects only one's personal protection possesions while kept on property owned by someone else
type of tax where the rate remains the same regardless of the ammount on which the tax is imposed
By what date must Wage and Tax Statements be mailed to all empoyees who worked during the past year?
Jan. 31
life insurnce that is protection only for a specific period of time and benfits are only paid @ the insureds death
term life
permanent life insurance plan that an amount of cash value accumlates as preminums are paid through out the insured entire life
permanent life
repairs damages to your car cause by something other than an accident
potential losses that accur b/c of mistakes, negligence, or errors in judgement
commonly known as the short form