Budget and Checking TEST

Costs that do not change from month to month

• Variable Expenses

• Needs and Wants

• Fixed Expenses

• Budget

A check that has cleared your account.

• Consideration

• Salary

• Contract

• Canceled Check

Writing a check and hoping to deposit money to cover it before the check clears is called

• Paying bills on time

• Needs and Wants

• Floating a check

• Wishful Thinking

When you subtract your liabilities from your assets, the difference is know as

• Net Worth

• Bank Reconciliation

• Overdraft

• Needs and Wants

The signature of the payee written exactly as his or her name appears on the front of the check

• Restrictive Endorsement

• Special Endorsement

• Electronic Funds Transfer

• Blank Endorsement

A written order to a bank to pay the amount stated to the person or business named on it.

• Check

• Consideration

• Disposable Income

• Contract

A set of goals for spending, saving, and investing the money you receive.

• Variable Expenses

• Financial Plan

• Fixed Expenses

• Needs and Wants

A check written for more money than your account contains is called an

• Budget

• Overdraft

• Bank Reconciliation

• Paying bills on time

A spending and saving plan based on your expected income and expenses.

• Variable Expenses

• Financial Plan

• Budget

• Needs and wants

Uses a computer based system that enables you to move money from one account to another without writing a check or exchanging cash.

• Electronic Funds Transfer

• Blank Endorsement

• Restrictive Endorsement

• Special Endorsement