Chapter 12 Section 1 Voacb

Voacbulary ;

1. Revenue ; All income that a business receives over a period of time.
2. Expenses ;  Cost of operating a business.
3. Budget ;  Provides detailed plans for the financial needs of individuals, families, and businesses.
4. Start-Up Budget ; Plans income and expenses from the beginning of a new business or a major business expansion until it becomes profitable.
5.Operating Budget ; Describes the financial plan for ongoing operations of the business for a specific period.
6. Cash Budget ; An estimate of the actual money received and paid out for a specific period.