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Business Accounting and Bookkeeping

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Joesph Kling

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Cards in this guide (21)
What does liability insurance cover

The term "Liability" means anything you are libal for. The best way to put it is the liability section of an insurance policy covers other people's bodies and stuff, in the event you harm either of those things.

The medical and car repair bills for anyone else involved in an accident you caused

How can the government promote socially responsible production

By passing environmental-protection regulations

What is discretionary spending within a budget

Money that can be used for any purpose

Why are fixed expenses difficult to reduce

Fixed expenses pay for necessities like rent and utility bills.

Why do banks pay their customers interest on the money in their savings accounts

The bank charged interest when it loaned that money to someone else. So in return, the banks pay their customers interest on the money they borrowed from their savings accounts.

What is the reason for putting yourself on a budget

People put themselves on a budget to keep their expenses below their income.

What provides a bank with collateral on a car loan

The car itself

Which is one way that credit cards differ from debit cards

With a credit card, you pay later for something you buy.

People who lease a car are paying for what

The reduction in the car's value while they're driving it

What describes how a fixed-rate mortgage works

The monthly payment on a fixed-rate mortgage never changes.

Why does a savings account make a better investment than a checking account

Savings accounts earn interest.

When is liability insurance needed

When you cause an accident that damages another vehicle or hurts someone

How do flexible expenses differ from fixed expenses

Flexible expenses vary over time.

Which of these makes a student loan different from other types of loans

Students don't have to provide any collateral to get a student loan. On some student loans, payment may be deferred until the student is out of college.

Why is it important for people to maintain a good credit history

So that they have an easier time getting loans and credit cards

What is the purpose of production budget

purpose of production budget

What is most easily be removed from a budget if spending is higher than income

discretionary spending

Help you match each author with correct era

You can match authors with the correct era by visiting your local library. A librarian can help you find all you need to know about each author and their works.

What can you do in addition to cutting all unnessary expenses to make sure your expenses don't exceed your income

Increase your income!

Ask us of these describes what can happen with an adjustable-rate mortgage

Excuse

What's one difference between a checking account and a savings account

savings account earns interest.

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