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2.03

TermDefinition
expense money spent
gross income an individual's income earned as salary or wage before taxes and other deductions
income money received
income and expense statement lists and summarizes income and expense transaction that have taken place over a specific period of time, usually a month or year
insurance a product that transfers risk from an individual to an insurance company or organization
mortgage a payment, usually monthly, applied to the balance of a home loan used when purchasing housing
net gain when income is greater than expense
net income take home pay
net loss when expense are greater than income
saving the portion of current income not spent on consumption
bonuses an amount of money added to wages
tips to give a gratuity
commissions a fee paid based on a %
wage a fixed regular payment
tax refunds return of excess amount of income tax
interest earned to measure a company ability to meet it's debt
investment earning income coming from interest payment
sales of assets sale of current assets such as account receivable
money from saving an economy of reduction in money and time
money from investment action or process of investing money for profit or material result
scholarships/grant from non-government sources academic study or achievement learning of high level
child support court-order payment, typically made by a noncustodial divorced parents
money for others a gift received or given to another person
scholarships/ grant from government sources academic study or achievement learning of high level supported by the government
government programs such as social security and workers compensation help the people with money or protection
Created by: tim.xiong35