Business - Chapter 3-Preparing Budgets
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Last updated 3:04 PM on 4/3/26
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6 Terms
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Budget
A financial plan for a individual’s or household’s planned income and expected expenditure for a period of time
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Budgeting
Making sure the expected expenditure is not bigger then the planed income
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Net Cash
The difference between expected expenditure and planned income
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Opening Cash
Any money and individual or household plans to have at the start of a given period
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Closing Cash
Any money a individual or household plans to have at the end of a given period
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Budget Analysis
Examining the budget to assess the financial situation over a given period of time
