Blog Archives

Oct 8

Asset

noun: an item of value owned.

the items on a balance sheet showing the book value of property owned

Oct 8

Cash

noun: money or its equivalent (such as a check) paid for goods or services at the time of purchase or delivery

adjective: being a method of accounting that includes as income only what has been received and as expenses only those paid

Oct 8

Credit

noun: an amount or sum placed at a person’s disposal by a bank

the provision of money, goods, or services with the expectation of future payment, also financial or commercial trustworthiness

 

Oct 8

Debt

noun: a state of being under obligation to pay or repay someone or something in return for something received a state of owing

Oct 8

FICO Score

noun: a type of credit score created by the Fair Isaac Corporation. Lenders use borrowers’ FICO scores along with other details on borrowers’ credit reports to assess credit risk and determine whether to extend credit.  It is also known as the “I Love Debt” score.