Budgeting Vocab Quiz

What is a written plan for giving, saving, and spending called?

• Cash-Flow Statement

• Budget

• Net Income

• Variable Expense

Which term describes a record that summarizes all of the income and outgo over a certain time period?

• Gross Income

• Fixed Expense

• Cash-Flow Statement

• Zero-Based Budget

What are earnings based on a percentage of the sales made called?

• Commission

• Accrued Interest

• Irregular Income

• Discretionary Expense

What type of expense remains the same from month to month?

• Variable Expense

• Intermittent Expense

• Fixed Expense

• Discretionary Expense

What is the amount you earn before taxes and other payroll deductions?

• Net Income

• Gross Income

• Irregular Income

• Accrued Interest

What is income received for work, as a gift, or through investments called?

• Net Income

• Gross Income

• Income

• Commission

What type of expense occurs at various times throughout the year and tends to be in large, lump sums?

• Variable Expense

• Intermittent Expense

• Fixed Expense

• Discretionary Expense

What is income that comes in at different amounts or at different times called?

• Irregular Income

• Net Income

• Gross Income

• Fixed Income

What is the term for what a person earns after payroll taxes and other deductions are taken out?

• Gross Income

• Net Income

• Irregular Income

• Commission

What type of expense varies in dollar amount from month to month?

• Fixed Expense

• Variable Expense

• Intermittent Expense

• Discretionary Expense