Financial Terms Flashcards (by ktagara)

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accounting

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The process of recording financial transactions

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allocation

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The distribution of resources or funds for specific purposes.

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asset

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An item of value owned by a government.

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audit

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An official inspection of financial records.

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bond

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A debt security issued by a government or corporation.

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budget

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A plan for revenue and expenditures over a period.

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capital

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Financial assets or the value of assets.

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currency

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The system of money in use in a country.

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debt

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Money that is owed or due.

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deficit

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The amount by which expenses exceed revenues.