Money Matter

Question 1

Cash (noun)

Answer 1

Definition: Physical currency in the form of coins or banknotes, generally accepted in transactions as a medium of exchange.

Synonyms: money, currency

Question 2

Debit (noun)

Answer 2

Definition: A banking transaction that involves taking money from a bank account.

Synonyms: withdrawal, deduction

Question 3

Credit card (noun)

Answer 3

Definition: A plastic card issued by a bank or financial institution that allows the cardholder to borrow funds to pay for goods and services.

Synonyms: charge card, plastic money

Question 4

Cheque (noun)

Answer 4

Definition: A written order directing a bank to pay a specified sum of money from the drawer’s account to the payee’s account.

Synonyms: check, bank draft

Question 5

In advance (idiom)

Answer 5

Definition: Payment made before goods or services are received.

Synonyms: upfront, ahead of time

Question 6

Annual fee (noun)

Answer 6

Definition: A yearly charge imposed by a financial institution for the use of a credit card or other financial services.

Synonyms: yearly charge, subscription fee

Question 7

Monthly membership (noun)

Answer 7

Definition: A subscription-based arrangement where a fee is paid monthly for access to certain services or facilities.

Synonyms: recurring membership, monthly subscription

Question 8

Interest rate (noun)

Answer 8

Definition: The percentage of a loan or credit card balance that is charged as interest on an annual basis.

Synonyms: APR, annual percentage rate

Question 9

Deposit (noun)

Answer 9

Definition: A sum of money placed in a bank account or held as a guarantee to secure a transaction.

Synonyms: down payment, security deposit

Question 10

Tuition fees (noun)

Answer 10

Definition: The amount of money charged by educational institutions for teaching or instruction.

Synonyms: educational fees, course fees

Question 11

Poverty (noun)

Answer 11

Lacking the basic needs of life such as food, health, education, and shelter

Synonyms: destitution, indigence

Question 12

Bank statement (noun)

Answer 12

a record of the money put into and removed from a bank account

Synonyms: account statement, financial statement

Question 13

Withdraw (verb)

Answer 13

to take money out of a bank account

Synonyms: take out, remove

Question 14

Mortgage (noun)

Answer 14

a loan taken out to purchase a home or property

Synonyms: home loan, property loan

Question 15

Grace period (noun)

Answer 15

a period of time after a payment is due during which no penalties are incurred

Synonyms: extension period, leniency period

Question 16

Budget deficit (noun)

Answer 16

the amount by which government spending exceeds government income in a particular period

Synonyms: fiscal shortfall, spending gap

Question 17

Retail voucher (noun)

Answer 17

a form of payment that can be used in a specific store or group of stores

Synonyms: store voucher, shopping voucher

Question 18

Counterfeit money (noun)

Answer 18

fake money made to look like genuine currency in order to deceive

Synonyms: fake currency, forged money

Question 19

Taxpayers’ money (noun)

Answer 19

money collected from citizens through taxes and used for government spending
Synonyms: taxpayer funds, public revenue

Question 20

Debt (noun)

Answer 20

money owed to someone else, typically a lender

Synonyms: obligation, loan

Question 21

Interest-free credit (noun)

Answer 21

a loan or credit arrangement where no interest is charged on the borrowed amount

Synonyms: zero-interest credit, interest-free borrowing

Question 22

Annuity (noun)

Answer 22

a fixed sum of money paid to someone each year, typically for the rest of their life
Synonyms: pension, retirement income

Question 23

Distribution costs (noun)

Answer 23

Expenses associated with delivering goods or services to customers
Synonyms: shipping costs, delivery expenses

Question 24

Duty-free store (noun)

Answer 24

a shop where goods can be purchased without paying certain taxes or duties
Synonyms: tax-free store, duty-exempt shop