2.2 Vocab

Question 1

Income

Answer 1

money received for work, as a gift, or through investments

Question 2

money received for work, as a gift, or through investments

Answer 2

Income

Question 3

Fixed Expense

Answer 3

expense that remains the same from month to month

Question 4

expense that remains the same from month to month

Answer 4

Fixed Expense

Question 5

Variable expense

Answer 5

expense that varies in dollar amount from month to month but that you can expect to have every month

Question 6

expense that varies in dollar amount from month to month but that you can expect to have every month

Answer 6

Variable expense

Question 7

Intermittent Expense

Answer 7

expense that occurs at various times throughout the year and tends to be in large, lump sums

Question 8

expense that occurs at various times throughout the year and tends to be in large, lump sums

Answer 8

Intermittent expense

Question 9

Discretionary (nonessential) expense

Answer 9

expense for things you don’t need

Question 10

expense for things you don’t need

Answer 10

Discretionary (nonessential) expense