NAF Exam Study Guide Latest Update | 2024/2025 | Rated A+

NAF Exam Study Guide Latest Update | 2024/2025 | Rated A+ Account reconciliation Is a process that compares two sets of forms to make sure they correspond Account summary Gives you a quick snapshot of your beginning balance, your total deposits and withdrawals, (money taken out of the account), the total service charges and/or feeds, and you ending balance for the specific statement record dates Acquisition When one company takes over another company APR Annual Percentage Rate, tells him how much the credit will cost him on a yearly basis Assets Anything you own that has monetary value, (car, house, phone) Bank Statement A document issued by a bank to its customers Bonds Loans that investors make to corporations or governments; they pay you interest over a specified amount of time. Budget Way to keep track of money; financial plan Business Risk Associated with investing, risk involved with the soundness of the business, (how well it is doing). Businesses must be prepared to adapt to many types of changes in the environment Technological innovation Demographic and societal trends Government rules and regulations Globalization of business Capital A business's cash or property Cash flow How your money comes and goes Checking account Allows you to write checks against the money in the account. Compound interest Refers to the interest that you earn on your money. The processor compounding refers to earning interest on your interest. (exponential) Corporation Business organization that operates as an entity separate from and independent of its owners. Follows corporate bylaws, rules. Starting a corporation is a detailed process and they are divided into stocks. Easier to gain