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2.03
5th Stack
| Term | Definition |
|---|---|
| Expense | Money spent. |
| Gross Income | An individual's income earned as salary or wages before taxes and other deductibles. |
| Income | Money received. |
| Income and Expense Statement | Lists and summarizes income and expense transactions that have taken place over a specific period of time, usually a month or year. |
| Insurance | A product that transfers risk from an individual to an insurance company or organization. |
| Mortgage | A payment, usually monthly, applied to the balance of a home loan used when purchasing housing. |
| Net Gain | When income is greater than expenses. |
| Net Income | Take home pay |
| Net Loss | When expenses are greater than income. |
| Savings | The portion of current income not spent on consumption. |
| Wages or salary before deductions | A fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee, especially to a manual or unskilled worker. |
| Commissions | An instruction, command, or duty given to a person or group of people. |
| Tips | A piece of advice or expert or authoritative information |
| Bonuses | An amount of money added to wages on a seasonal basis, especially as a reward for good performance. |
| Tax Refunds | The difference between taxes paid and taxes owed. |
| Interest Earned | An amount earned by a company on its interest bearing bank accounts or other investments. |
| Investment Earnings | Income coming from interest payments, dividends, capital gains collected upon the sale of a security or other assets, and any other profit that is made through an investment vehicle of any kind. |
| Sales of Assets | The compensated distribution of valuable property that can be tangible or intangible. |
| Money from savings | An amount of money you get from saving. |
| Money from Investments | An amount of money you get from making investments. |
| Scholarships/grants from non-government sources. | Scholarships and grants that come from non-government funded sources. |
| Money from others | Money borrowed as unsecured loans, or contributed by smaller stockholders. |
| Child Support | Court-ordered payments, typically made by a noncustodial divorced parent, to support one's minor child or children. |
| Scholarships/grants from government sources | A financial award given by the federal, state or local government to an eligible grantee. |
| Government programs such as Social Security and worker's compensation | Programs and activities sponsored or administered by local, state, or national governments. |
Created by:
ZLittle97
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