income and expenditure first year business

What is income?

• The total amount of money spent in a particular period of time.

• An amount of money that has been leant to someone over a particular period of time to allow them to purchase a product.

• A sum of money that is owed to someone else.

• The total money received by an individual, household or company on a regular basis, for work or through investments

which of these is a capital transaction?

• purchase of raw material

• payment of wages

• sale of goods

• purchase of machinery

If an expense can NOT be removed from your budget to save money, it is considered a _____.

• Income

• Want

• Need

• Savings

Examples of Fixed Expenses include:

• Mortgage, loans, rent
• Cable, entertainment, food
• Gas, food, phone
• Clothing, gas, food

Which one is a fixed (same amount, same time) payment?

• food

• power

• mortgage

• petrol

Tags

CCSS.3.OA.D.9

Car Payment

• Fixed Expense
• Variable Expense

Fixed or variable expense: Groceries

• Fixed

• Variable

Fixed or variable expense: Rent?

• Fixed

• Variable

Gas

• Fixed Expense
• Variable Expense

Car Insurance

• Fixed Expense
• Variable Expense