BUSINESS MATH- UNITS 4 AND 5 REVIEW DAY TERMS EXAM QUESTIONS AND ANSWERS

BUSINESS MATH- UNITS 4 AND 5
REVIEW DAY TERMS EXAM QUESTIONS
AND ANSWERS
assessed value - ANSWER-a percentage of the market value of real estate

deposit slip - ANSWER-form used by the depositor to add money to an account

tip - ANSWER-money given to show appreciation for a service done

net pay - ANSWER-pay after deductions

market value - ANSWER-the rue value of real estate

register - ANSWER-checking records

transit number - ANSWER-the number on a check that identifies the check

reconcile - ANSWER-to make the checkbook register and bank statement agree

proceeds - ANSWER-the amount of money you receive in a discount loan


debit card - ANSWER-used to automatically transfer the amount of a sale to the store

amount financed - ANSWER-amount remaining to be paid after the down payment is
made

balance - ANSWER-amount of money in an account

installment loan - ANSWER-a loan where equal payments, usually monthly, are made
over a specified period of time

check - ANSWER-an order for a bank to pay for money

mills - ANSWER-property tax rate expressed in units per thousands

gross pay - ANSWER-pay before deductions

commission - ANSWER-percentage of a sale

canceled check - ANSWER-check cashed by the bank