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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.

Recordkeeping   A way for you to track items you spend your money on so that you can manage your money.  
Expenditures   Items you spend your money on.  
Budget Sheet   A tool you use to record your expenses, usually on a monthly basis.  
Living Expenses   Expenses that include food, utility bills, and pocket money.  
Fixed Expenses   Expenses that do not vary from one month to the next.  
Budget   A plan for using money in a way that best meets your wants and needs.  
Annual Expenses   Expenses that occur only once a year.  
Expense Summary   A 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 and vehicle repairs.  


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Created by: dsteffey