Topic 16- 5th Grade Math Vocabulary

Front

BALANCE OF BANK ACCOUNT

Back

The amount of money currently in a bank account.

Front

BALANCED BUDGET

Back

A budget when the expenditures (total amount of money spent, saved, and shared) equals the total income.

Front

BUDGET

Back

A plan for how much income will be received and how it will be spent.

Front

DEBIT

Back

Money taken out of your account.

Front

DEPOSIT

Back

Money put into your bank account.

Front

EXPENSES

Back

The amount paid for a good or a service.

Front

GROSS INCOME

Back

The total amount of money that you earn.

Front

INCOME

Back

Money earned for work people do.

Front

NET INCOME

Back

The amount of money that you receive after deductions are subtracted from your gross income.

Front

PAYROLL TAX

Back

Money deducted from salaries to pay the government.