Income vs Expense

Front

What is Income?

Back

Income is the money that you receive, usually from work, gifts, or bonuses.

Front

What is Expense?

Back

Expense is the money that you spend on things like bills, food, and other purchases.

Front

What happens when you receive money?

Back

You gain income.

Front

What happens when you give money to buy something?

Back

You incur an expense.

Front

What is an example of Income?

Back

Getting an allowance from your parents.

Front

What is an example of Expense?

Back

Paying for your electric bill.

Front

When you spend money, what are you doing?

Back

You are exchanging money for goods or services.

Front

Is receiving a Christmas bonus considered Income or Expense?

Back

Income.

Front

Is visiting the dentist considered Income or Expense?

Back

Expense.

Front

What do you call the money you earn from a job?

Back

Income.