Financial Terms Flashcards

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Account statement

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A document summarizing a customer's financial transactions over a specific period.

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Back (v)

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To support or endorse a financial instrument.

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Banknote

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A piece of paper currency issued by a government or central bank.

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Bill

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A piece of paper currency, often used interchangeably with 'banknote.'

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Cash

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Physical money, including banknotes and coins.

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Checking account

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A deposit account that allows customers to make withdrawals and deposits.

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Coin

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A piece of metal used as money.

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Commodity

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A raw material or agricultural product that can be bought and sold.

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Currency

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The money used in a country.

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Digital currency

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A type of currency that exists electronically.