fbla introduction to financial math

Front

What is gross pay?

Back

An employee's pay before deductions are taken.

Front

What is a gratuity?

Back

A tip.

Front

What is the term of sale?

Back

An agreement made between a buyer and a seller of goods or services

Front

What is a purchase order?

Back

A document between a buyer and seller outlining the types, quantities, and agreed prices for products.

Front

What is an invoice?

Back

A document that a seller gives to a buyer for the buyer to use to say what he/she did for the buyer and the agreed payment.

Front

What is maintained markup?

Back

The difference between the cost of the goods and the price at which they are sold.

Front

Fringe benefits

Back

A benefit to an employee's salary, like health insurance.

Front

What is the maturity value?

Back

The amount due on a bill's due date.

Front

What is an insurance premium?

Back

The amount a company or person must pay for an insurance policy.

Front

What is an insurance deductible?

Back

The amount of money the insured has to pay before the insurance company has to pay anything.