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Business Math - Chapter 3

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
Recordkeeping   A way for you to track items you spend your money on so that you can manage your money.  
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Expenditures   Items you spend your money on.  
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Budget Sheet   A tool you use to record your expenses, usually on a monthly basis.  
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Living Expenses   Expenses that include food, utility bills, and pocket money.  
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Fixed Expenses   Expenses that do not vary from one month to the next.  
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Budget   A plan for using money in a way that best meets your wants and needs.  
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Annual Expenses   Expenses that occur only once a year.  
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Expense Summary   A report that compares the amounts that you have spent to the amounts that you have budgeted.  
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Emergency Fund   Extra money set aside to be used for unpredictable expenses, such as medical bills and vehicle repairs.  
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