WorksheetsCh 2 Vocab - Budgeting Basics
Total questions: 12
Worksheet time: 24mins
Definition: a record that summarizes all of the income and outgo (spending) over a certain time period
budget
Intermittent expense
cash-flow statement
Irregular Income
Definition: earnings based on a percentage of the sales made
income
budget
irregular income
commission
Definition: income that comes in at different amounts or at different times, or both
variable expense
gross Income
net Income
Irregular Income
Definition: expense that varies in dollar amount from month to month, but that you can expect to have every month
Fixed expense
Variable expense
Discretionary expense
Intermittent expense
Definition: expense for things you don't need
Intermittent expense
Variable expense
Fixed expense
Discretionary expense
Definition: a written plan for giving, saving, and spending
Gross income
Commission
Budget
Income
A cash flow plan that assigns an expense to every dollar of your income, wherein the total income minus the total expenses equals zero.
variable expense
irregular income
zero-based budget
net income
Expense that remains the same from month to month.
discretionary expense
intermittent expense
variable expense
fixed expense
Money received for work, as a gift, or through investments.
income
profit
budget
tastes
What a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay.
Gross Profit
Net Income
Irregular Income
Gross Income
Expense that occurs at various times throughout the year and tends to be in large, lump sums.
Discretionary Expense
Variable Expense
Intermittent Expense
Fixed Expense
The amount you earn before taxes and other payroll deductions.
Irregular Income
Gross Income
Net Income
Variable Expense
