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Intro. to Occ. Review

review for state exam

W-2 Formtotal earnings sent to you by employer
W-4 Formform to be filled out when starting a new job to claim dependants
profitmoney that is left after all costs have been paid
attitudesan idividual's feelings and opinions
entrepreneurspeople who start their own businesses
outstanding checka check that has not been endorsed
transactionexchanging something of value for something wanted o needed
aptitudethe potential for learning a certain skill
surplusa large amount of products
apprenticea person who learns a trade by working with a skilled worker
inflationwhen the prices of items increase but people income does not
service chargea monthly fee that a bank charges for handling a checking account
payeethe person getting the money
needsclothing, food, shelter
collateralthe property pledged to a lender to obtain a loan
gross incomethe total amount of money a person earns on a job
variable expenseinterest earned on savings
mediationworkers vs. management before strike occurs
shortagethe result when the demand for goods exceeds the supply
proprietorshipthe owner of the business


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