Definitions
Tips
Income and Expense
Personal Budgeting and Finance
Business Budgeting and Finance
100
a plan for wise spending and saving based on income and expenses
What is a Budget
100
Ask yourself the question, do I ____ it? do I ____ it now?
What is need
100
It is essential for businesses/individuals to record _____ and ______
What is income and expenses
100
The step where you calculate the amount of income you plan to earn
What is step 1
100
There are ____ types of business budgets
What is two
200
The amount of money collected by a business
What is revenue
200
Business should always stick to their _____
What is budget
200
The total amount of income received by a person or business
What is gross income
200
The step when you establish your goals
What is step 4
200
What it's called when bussinesses need to cut back in order to operate
What is cutting costs
300
Costs that differ from one to another
What is variable expenses
300
Individuals should shop for their groceries when?
What is on a full stomach
300
The gross income minus the business's expenses
What is net income
300
The step when you review your budget
What is step 5
300
The difference bettween business budgeting and personal budgeting is that businesses only ______ to save money
What is spend money
400
Costs that occur regularly and cannot be adjusted
What is fixed expenses
400
There are no postage fees when you pay your bills over the ______
What is Internet
400
Any costs that occur during the course of a business
What is business expenses
400
The step when you calculate the amount of money left after the budget
What is step 3
400
This is done on a regular basis and clearly presents revenues and expenses of the company
What is an operating budget
500
The income that is left after expenses have been paid for
What is discretionary income
500
Paying your bills as soon as possible leaves less time to spend ________
What is non-discretionary income
500
The amount of income left after one's taxes and goverment expenses are subtracted
What is disposable income
500
the step when you calculate the expenses you will encounter
What is step 2
500
This budget's purpose is to show the money needed to open a business
What is a start up budget
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