INCOME AND EXPENSE STATEMENT

Front

Money spent

Back

expense

Front

an individual's income earned as salary or wages before taxes and other deductions

Back

gross income

Front

money received

Back

income

Front

What lists and summarizes income and expense transactions that have taken place over a specific period of time, usually a month or a year? Options: mortgage, income and expense statement, net income, savings

Back

income and expense statement

Front

product that transfers risk from an individual to an insurance company or organization

Back

insurance

Front

payment, usually monthly, applied to the balance of a home loan used when purchasing housing

Back

mortgage

Front

when income is greater than expenses

Back

net gain

Front

What is the term for "take home pay"? Options: net loss, net pay, gross loss, gross pay

Back

net pay

Front

when expenses are greater than income

Back

net loss

Front

portion of current income not spent on consumption

Back

savings