Question Answer
Allowance the amount of something that is permitted within a set of regulations
budget a formal written statement of expected revenue and expenses for a future period of time
budget variance difference between the budgeted or base line amount of expenses or revenue, and the actual amount.
financial plan a comprehensive evaluation of an individuals current pay and future financial state by using current known variables to predict
fixed expenses a business expense that does not change with number of units produced such as insurance and rent
money management process of budgeting, saving, investing, spending, or otherwise in overseeing the cash usage of an individual group.
net worth assets minus liabilities. measure of what an entity is with essentials
personal assets An asset in the form of money or collateral
budget category cash and non cash expenses
financial goals an objective which is expressed in or based upon money
income money recieved, especially on a regular basis for work through investments
long term goals goals that take a long time to achieve
short term goal goals you achieve in the near future
defict the amount by which something especially a sum of moneyis too small
surplus amount of something left over when requirements have been met
start up cost non reaccuring cost associated with setting up a business such as accountants fees legqal fees registration costs
equity value of shares issued by a company
debt money owed or due

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