Chapters 1-6 Twomey

Net Cash = Total (a)   - Total Expenditure

There are how many categories of expenditure in a budget?

• 2

• 3

• 4

• 5

Which ONE of the following is an example of FIXED INCOME?

• Lotto win

• Benefits in kind

• Salary

• Interest on savings

Net Cash + Opening Cash = (a)   Cash

A BUDGET is a financial document showing the planned income and expenditure for a future time.

• True

• False

When calculating TOTAL EXPENDITURE in a budget, you must add how many subtotals?

• 1

• 2

• 3

• 4

Which type of expenditure is the following: cinema tickets

• Fixed

• Irregular

• Discretionary

Buying goods or services without planning to is known as I_____________ B__________________

(a)  

Which of the following is NOT a Benefit in Kind?

• Company Car

• Free parking space

• Subsidised canteen meals

• Overtime

A pension is an example of.........

• Regular income

• Irregular income