G3 FL-6

Any money paid for buying goods & services is known as_____.

• Profit 

• Income

• Expense

Money received on birthdays is called _____.

• Needs

• Income

• Wants

_____ expenses are the expenses that can change from time to time.

• Fixed

• Essential

• Variable

______ expenses stay the same every month.

• Non-essential

• Fixed

• Variable

_____ involves recording of all income & expense.

• Income book

• Expense sheet

• Journal