| Question |
Answer |
| An offer made and accepted | Mutual assent |
| Costs you are obligated to pay at specific times, regardless of other events | Fixed expenses |
| Costs that vary in amount and type, depending on events and the choices you make | Variable expenses |
| A legally enforceable agreement between two or more parties | Contract |
| Anything of value that a person owns | Assets |
| A person who promises to pay a note if the maker fails to pay | Co-signer |
| A statement about a product's qualities or performance that the seller assures the buyer are true | Warranty |
| An orderly program for spending,saving, and investing your income | Financial Plan |
| A spending and saving plan based on your expected income and expenses | Budget |
| Money that you owe to others, also known as debt | Liabilities |
| An unconditional written promise to pay a specified sum of money upon demand of the holder | Negotiable instrument |
| A computer program that organizes data in columns and rows and can perform calculations using the data | Spreadsheet |
| A computer program that organizes data for easy search and retrieval | Database |
| Money you have left to spend or save after taxes have been paid | Disposable income |
| Difference between assets and liabilities | Net worth |
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