Finance Chapter 3

the steps in preparing a practical budget in order Set financial goals, Estimate your income, budget for unexpected expenses, Budget for fixed expenses, budget for variable expenses, Record what you spend, review spending or saving patterns, Consumer price index a measure of the changes in prices for commonly purchased goods …

Chapter 19 – Financing International Trade

Merchandise Trade – exports and imports of goods- the oldest and least risky form of international business Supplier Credit the form of credit whereby the supplier funds the entire trade cycle Payment Methods for International Trade 1) Prepayments2) Letters of Credit3) Drafts (Bills of Exchange) – Sight Drafts – Time …

CH. 9 Finance

The length of time a firm must wait to recoup, in present value terms, the money it has invest in a project is referred to as the: Discount payback period A project’s average net income divided by its average book value is referred to as the project’s average: accounting return …

Personal Finance

Traditional (Individual Retirement Account) IRA Individual Retirement Account – A personal qualified retirement account through which eligible individuals accumulate tax-deferred income up to a certain amount each year, depending on the person’s tax bracket. Roth (Individual Retirement Account) IRA Private retirement plan that taxes income before it is saved, but …