Tuesday, April 12, 2011

Vocabulary Chapter 12

Revenue- all income that a business receives over a period of time.
Expenses- the costs of operating a business.
Budget- provides detailed plans for the financial needs of individuals, families, and businesses.
Start-up Budget- plans income and expenses from the beginning of a new business or a major business expansion until it becomes profitable.
Operating Budget- describes the financial plan for ongoing operations of the business for a specific period.
Cash Budget- is an estimate of the actual money received and paid out for a specific period.

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