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What is lump sum contract?
That means the worker gets paid a fixed amount of money for finishing the job, regardless of how long it takes to get it done.
What mean by salary or wage?
Wage - A wage is a compensation, usually financial, received by workers in exchange for their labor. Salary - A fixed amount of money paid to a worker
Is the amount charged for use of bank's money is called interest?
Yes. The amount a bank charges you for using their money is called an interest. This facility wherein you get to use the banks money and repay them is called a Loan. The bank grants you a fixed amount as loan and you repay them every month along with an interest.
What is meant by fixed deposits?
Fixed Deposit also called as term deposit in many countries works in a very simple manner as decided by Financial institutions. You have to deposit your money for a fixed tenure and you get a legitimate interest on that amount. Once the tenure is completed, you get your money after maturity. The final amount contains Principal amount Plus Interest Rate.
Why fixed deposit is called as pledge?
A fixed deposit is called a pledge, because it is an agreement that is made. The agreement is a certain amount of money will be deposited on a regular basis. It is a promise or pledge to make the deposit.
What is a fixed amount of money that is excused from taxes?
Exemption
What is money given to a worker who was working called?
It is called a wage
What are money held and assets to be received in fixed or determinable amount of money?
monetary assets
What is explicit interest?
Explicit interest is the amount of money that is paid on a loan. This means that it is a fixed amount of interest.
What is the proper amount of money to obligate at the award of a firm fixed-price contract?
The full amount of the contract
What is an amount of money earned on a principal called?
The amount of money earned on a principal called is interest
What best describes net pay?
the amount of money a worker actually takes home after deductions
