| A | B |
|---|
| critical listening | A type of listening which you differentiate fact from fiction |
| creative listening | brainstorming, ideas are considered and most workable parts are used |
| sympathetic listening | The type of listening in which you listen but offer no advice |
| Listening | An active process or skill that requires mental concentration and effort |
| Hearing | The process of preceiving sound |
| allowances | persons claimed on W-4 to reduce the amount of tax withheld |
| W-2 | list money withheld for taxes and mailed to you by Jan 31 |
| W-4 | A form completed when you begin working to determine no of allowances for taxes |
| Social Security Act | First national insurance program enacted in 1935 |
| Wage and Hour Act | The common name for the Fair Labor Standards Act |
| Collective bargaining | unions and employers negotiate terms of employment |
| Gross pay | wages before any deductions |
| Net pay | wages after deductions |
| Take-home pay | disposal income |
| Progressive tax | rates increase as income increases |
| Proportional tax | A flat tax which rates remain constant |
| Regressive tax | decreases in proportion to income |
| Contract | agreement by two or more person to the terms of a contract |
| Minor | not reached the age of majority |
| Budget | to match income with expenses |
| Financial plan | orderly program for spending, saving and investing |
| Disposable income | money you have to spend after required deductions |
| Cash surplus | money you have left after paying monthly expenses |
| Altered workweeks | a variation from the standard eight hour a day, five day a week schedule |
| Tax forms | 1040, 1040A and 1040EZ |
| Revenue | Money collected by the government through taxes |
| Audit | tax returns are questioned by the government |
| Voluntary compliance | citizens are expected to prepare and file appropriate tax returns |
| Oustanding Checks | written but not processed by the bank |
| Canceled checks | those the bank has processed |
| ABA number | identifies location of bank |
| Check safekeeping | microcopies original destroyed |
| Reconciliation | process of matching checkbook register with bank statement |
| Share Draft Accounts | checking accounts with credit unions |
| certified check | personal check written on own funds |
| cashier's check | check written on bank funds |
| Special endorsement | name's the next payee on the back |
| Blank endorsement | a signature on the payee on the back |
| Restrictive endorsement | limits the use of a check |
| Endorsement | signing a check to transfer ownership |
