Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

Username is available taken
show password

Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't Know
Remaining cards (0)
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

2.03-2.05 PF

Statement of Financial Position, Income & Expense Statement, Spending Plan

Expense Money Spent.
Gross Income An individual's income earned as salary or wages before taxes and other deductions.
Income Money Received.
Income & Expense Statement Lists and summarizes income and expense transactions 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 expenses.
Net Income Take home pay.
Net Loss When expenses are greater than income.
Savings The portion of current income not spent on consumption,
Asset Items of monetary value a person or household owns.
Expense Money Spent.
Income Money received.
Investment asset Financial assets purchased with the hope that they will generate income and appreciate in value to make it possible to sell at a higher price in the future.
Liability A debt or obligation owed to others.
Market Value The amount you could realistically sell an asset for today.
Monetary asset Assets that can be quickly and easily converted into cash.
Net worth A measure of financial wealth and indicates the monetary value of all possessions that a person or household owns, minus the total amounts owed to others.
Statement of Financial Position A financial statement that describes an individuals or family's financial condition on a specified date by showing assets, liabilities, and net worth.
Tangible Asset Personal property that was purchased to create a lifestyle or improve your life.
Wealth A measurement of how much a person or household owns once all debts have been paid.
Spending Plan An income and expense statement sometimes referred to as a budget which records both planned and actual income and expenses over a period of time .
Created by: hardysh1
Popular Finance sets




Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
restart all cards