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Business Finance
Chapter 3 Record Keeping
| Term | Definition |
|---|---|
| recordkeeping | Keeping track of items you spend money on during a period of time to help you manage your money |
| expenditures | Items you spend money on |
| budget sheet | A record of monthly expenses |
| living expenses | routine expenses, including amounts for food, utility bills, and pocket expenses |
| budget | A plan for using money in in a way that meets your wants and needs |
| fixed expenses | Regular expenses which do not vary from one month to the next, such as rent |
| annual expenses | Expenses which only occur once a year, such as real estate taxes |
| expense summary | A monthly report that compares the amounts that you have spent to the amounts that you have budgeted |
| emergency fund | Extra money set aside to be used for unpredictable expenses, such as medical bills or car repairs |
| device | a plan, method, or trick with a particular aim |
| vary | differ in size, amount, degree, or nature from something else of the same general class |
| vehicle | a thing used for transporting people or goods, especially on land, such as a car, truck, or cart |
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winninghamp
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