C&L Science Chapter3 Flashcards
0
Q
Cash flow statement
A
A summary that shows total income and spending for a given time period.
1
Q
Budget
A
A written cash flow plan
2
Q
Carbon check
A
A copy of each check you write.
3
Q
Envelope system
A
Series of envelopes that are divided into categories ( food,entertainment,gas,ect) and are used to store cash for planned monthly expenses.
4
Q
Impulse purchase
A
An item that is bought without previous planning or consideration of the long-term effects.
5
Q
Overdraft
A
Occurs when money is withdrawn from a bank account and the available balance goes below zero.
6
Q
Reconcile
A
To match your bank statement with your checkbook.
7
Q
Zero-based budget
A
A cash flow plan that assigns an expense to every dollar of your income, wherein the total income minus the total expenses equals zero
