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WorksheetsINCOME AND EXPENSE STATEMENT
Total questions: 10
Worksheet time: 8mins
Name
Class
Date
1.
Money spent
a)
income
b)
expense
c)
net income
d)
gross income
2.
an individual's income earned as salary or wages before taxes and other deductions
a)
gross income
b)
gross loss
c)
net income
d)
net loss
3.
money received
a)
net loss
b)
net gain
c)
insurance
d)
income
4.
lists and summarizes income and expense transactions that have taken place over a specific period of time, usually a month or a year
a)
mortgage
b)
income and expense statement
c)
net income
d)
savings
5.
product that transfers risk from an individual to an insurance company or organization
a)
insurance
b)
mortgage
c)
expense
d)
income
6.
payment, usually monthly, applied to the balance of a home loan used when purchasing housing
a)
insurance
b)
expense
c)
mortgage
d)
income and expense statement
7.
when income is greater than expenses
a)
net income
b)
net loss
c)
gross income
d)
net gain
8.
take home pay
a)
net loss
b)
net pay
c)
gross loss
d)
gross pay
9.
when expenses are greater than income
a)
expense
b)
net loss
c)
net income
d)
net gain
10.
portion of current income not spent on consumption
a)
expense
b)
savings
c)
net loss
d)
net income
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